Nazara Technologies’ board has officially approved a strategic investment in Kofluence, an influencer platform. The gaming giant is set to acquire a substantial 10.77% stake in Kofluence. Nitish Mittersain, Joint MD and CEO of Nazara, emphasized the synergy between gaming and influencers, aiming to enhance the global gaming experience. The move aligns with Nazara’s new game publishing initiative, ‘Nazara Publishing,’ poised to benefit from influencer collaborations.
Ritesh Ujjwal, Co-founder of Kofluence, expressed excitement about the strategic collaboration, acknowledging the gaming industry’s rapid ascent in the handheld technology entertainment sector. Kofluence, headquartered in Bengaluru, boasts a network of over 600,000 creators across Instagram, YouTube, Facebook, LinkedIn, and X (formerly Twitter). Founded in 2019 by Sreeram Reddy Vanga and Ritesh Ujjwal, the adtech platform focuses on various performance metrics, catering to a diverse user base.
The startup has garnered significant support from angel investors, including Sujeet Kumar, Aprameya Radhakrishnan, and Kunal Shah, with a total funding of $4 million to date. In a previous interview with YourStory, Mittersain outlined Nazara’s intent to close a minimum of three deals related to its publishing vertical—Nazara Publishing. Launched in October the previous year, the initiative aims to invest Rs 1 crore per game, targeting the release of at least 20 games over the next 18 months.
The collaboration between Nazara Technologies and Kofluence signifies a pivotal moment in the influencer platform’s journey. With the gaming industry’s rising dominance, this partnership promises to redefine the landscape of entertainment and technology, ushering in a new era of creative collaborations and immersive gaming experiences on a global scale.
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