Nazara Technologies has invested an undisclosed amount in Bangalore VR startup Instasportz.
Instasportz’s business is in setting up VR “lounges” in public spaces, partnering with local multiplex chain Carnival Cinemas to set up its “Instazones” kiosks.
The minority investment is a part of Nazara’s strategy of expanding its portfolio within emerging markets. The company recently purchased a minority stake in quiz operator Crimzoncode and formed a Kenyan subsidiary to step into the country’s real-money gaming market.
With the investment in Instasportz, Nazara is looking to embed itself in the offline gaming space through the company’s VR lounges.
No lounging around
“We aim to own the largest network of VR lounges across India and other emerging markets globally,” said Instasportz founders Bigith Nambiar and KR Rahul
“We believe that Nazara, with its presence in 61 countries as on September 30, 2018, across emerging markets will help us in expanding our presence through strategic local partnerships.”
Nazara CEO Manish Agarwal added: “At Nazara, we wish to offer interactive entertainment that blends sports, virtual reality, and arcade gaming thus offering an immersive gaming experience across all age groups.”
“With this investment in Instasportz, we are pushing ourselves to offer gaming lead entertainment to the gamers across various touch points and aim to give them a chance to experience the Virtual Reality games at the Instazones and continue the thrill of gaming on their mobile phones once they head back home.