Bengaluru based fantasy gaming start-up HalaPlay recently raised ₹9 Crore funding from Milan Ganatra Ventures. This investment marks the entry of Milan Ganatra, founder and former CEO of Miles Software into the Indian online gaming industry. The investor will also be mentoring and guiding the young Halaplay team. Earlier the gaming start-up had also raised funding twice in November 2017 and December 2018. It raised almost ₹40 crore in December 2018.
Milan Ganatra started his journey as an entrepreneur with Miles Software back in 1998. He later sold the company to Ebix Cash in 2008. Recently, he launched ‘1Silver Bullet,’ a fin-tech startup with an investment of ₹7.2 crore. He also invested in a school fee financing start-up named ‘Financepeer’, although the amount of investment is undisclosed. An investment analytics platform ‘Finalyca’ had also received an investment worth $2,00,000 from Ganatra.
HalaPlay is an online platform that offers fantasy sports such as cricket, football and kabaddi. It was founded by Swapnil Saurav, Prateek Anand, Ananya Singhal and Aman Kesari in 2017. Like other fantasy sports platforms, users can build a team, enter leagues and tournaments and win cash prizes on HalaPlay. Last month, amidst the suspension of IPL, Halaplay reportedly raised ₹2.94 crore from Gaussian Networks and Nazara Technologies collectively. Nazara invested ₹1.74 crore, while Gaussian Networks invested ₹1.19 crore.
The online gaming industry in India is expected to hit the $2.8 billion mark by the year 2022, as per a Deloitte India Report. Fantasy gaming market in India is mainly supported by IPL due to the love for cricket among Indians. However, the fantasy gaming industry is anticipated to face major losses in the coming months due to the suspension of IPL 2021.
Amarylisa Gonsalves is a Content Writer at Gutshot Magazine. Advancing from a marketing background, she found her calling in writing. She takes delight in exploring genres and is a curious learner. Patient and ambivert, she believes in letting her work speak for itself. Apart from content writing, she finds solace in writing poetry by manifesting herself through words. Additionally, she adores indulging in drawing and DIY crafts.
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