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Halaplay raise INR 2.94 Crore from Gaussian and Nazara

The entire country was looking forward to 2020 Indian Premier League (IPL), there’s a great chance that series could be delayed. Almost all major sports tournaments around the world have been postponsed and cancelled by now as the COVID-19 cases keep increasing daily. The fantasy sports startups have already started analyzing the unfavourable situation and to keep themselves floating in these times, these startups are in need of funding which has now come at least for Bengaluru-based Halaplay.

Halaplay Technologies Pvt. Ltd, operator of the daily fantasy sports has raised INR 2.94 Crores from Delta Corp’s online gaming subsidiary Gaussian Networks (the company that operates Adda52) and Nazara Technologies. As per the report in Inc42, Halaplay raised INR 1.19 crores from Gaussian Networks Private Limited and INR 1.74 Crores from Nazara Technologies Limited.

Founded in 2017 by Swapnil Saurav, Prateek Anand, Ananya Singhal and Aman Kesari, HalaPlay is an online platform which mainly caters to Cricket, Football and Kabaddi fans. The platform caters to cricket, football and kabaddi fans allowing its users to create teams, enter leagues and win cash prizes.

As part of the transaction, Halaplay has issued 3892 shares to Nazara and 2669 shares to Gaussian Networks. The price per share for this deal stood at INR 4,395 with a nominal price of INR 100 per share.

The filings also show that the startup had raised INR 50 Lakh from Delta Corporation Limited in December 2019. For this deal, Halaplay issued 1032 shares at a premium of INR 4,744 with a nominal amount of INR 100.

The fantasy sports platforms are in need for funding that will help the company to stay afloat amid the hard times. Other online games like poker and rummy do not depend on live tours and are now experiencing a surge of players as more and more people are asked to stay at home.

For more updates gaming industry around the world, keep reading GutshotMagazine.com and stay tuned!

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