Nazara Technologies’ board has officially sanctioned investment in the influencer platform Kofluence. The gaming firm will now acquire a 10.77% stake in Kofluence.
“Our goal is to create an environment where gaming collaborates with the creativity of influencers, enriching the gaming experience for a global audience. Our new game publishing initiative ‘Nazara Publishing’ will particularly benefit from this new initiative,” said Nitish Mittersain, Joint Managing Director and CEO of Nazara.
“This strategic collaboration marks a pivotal moment in Kofluence’s journey. The gaming industry is swiftly asserting dominance in the handheld technology entertainment business sector, displaying relentless momentum,” Ritesh Ujjwal, Co-founder of Kofluence, said.
Bengaluru-based Kofluence has just over 600,000 creators on Instagram, YouTube, Facebook, LinkedIn, and X (formerly Twitter). Founded in 2019 by Sreeram Reddy Vanga and Ritesh Ujjwal, the adtech platform caters to users across various relevant performance metrics.
To date, the startup has raised $4 million from marquee angel investors, including Sujeet Kumar, Aprameya Radhakrishnan, and Kunal Shah.
In an exclusive interview last year with YourStory, Mittersain had said the company would attempt to close at least three deals related to its publishing vertical—Nazara Publishing—which it launched in October last year.
As per the firm, it would invest Rs 1 crore per game and has a target of launching at least 20 games in the next 18 months.
Edited by Kanishk Singh
