Industry venture capital fund Vereeni Investments has acquired a stake in India-facing fantasy sports operator Nostragamus for a seven-figure sum. Nostragamus allows players to assemble imaginary or virtual teams of real players across a range of sports, including cricket, basketball, badminton, tennis and kabaddi, granting real-money prizes to players.
Nostragamus runs a mobile application that has already been downloaded more than 5 million times. adding over half a million downloads every month. The company has witnessed tremendous success in the fast-growing Indian market. Vereeni undertakes its enterprise investment in Nostragamus, that is participating in a funding round led by Mumbai-based investment bank Incorp Advisory.
Nostragamus is founded by the former McKinsey India associate, Yashashvi Takallapalli who is establishing the enterprise in Bangalore developing new engagements for India’s multi-billion worth sports market. In the true sense, such an investment will develop at a terrific speed scaling heights and India has been an exciting market to try out such endeavors.
Takallapalli added, “This investment from Vereeni will not only help us accelerate our growth, but also give us access to an unparalleled network of international igaming expertise. We are thrilled to join the Vereeni network and look forward to further pushing forward the fantasy sports vertical over the coming months and years.”
The investment is the latest by Vereeni as a part of its €100m ‘Level Up’ investment fund, which has interests in OneTouch, Sherpa, Coolbet, Global Gaming, Hexagon, The Games Company, Kalamba Games, Puntaa, Skrilla, Moneyball, Triggy Bet and Singular. Nostragamus is the second major fantasy sports investments made by them joining the existing Australia-based Moneyball.
Vereeni founder and Chief Executive Timothy John Heath said, “We have chosen to make significant investment in Nostragamus because we are hugely impressed by its team and the speed at which it has scaled.”
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