Nazara Technologies Ltd. has invested of Rs 83.5 crore in Paper Boat App. It is an interactive gaming and digital sports media company. The company has acquired a majority stake of 51 per cent at a pre-money valuation of Rs. 154 crore, Nazara said in a statement.
Paper Boat Apps is the creator and publisher of Kiddopia, a subscription-based pre-school edutainment app. Till date, the app has been downloaded by more than 2.5 million parents around the world and has over 100,000 active subscribers. Nazara has over 20 million monthly active kids playing its games on Google Play and App store.
According to Anupam Dhanuka, Co-Founder and CEO, Paper Boat Apps Pvt. Ltd., “This investment will help us grow our team, strengthen our market share in the US and expand to other high-value markets such as Latin America, Europe and Japan.”
In 2013, Paper Boat App was founded by husband-wife duo, Anupam and Anshu Dhanuka as a bootstrapped startup to create world-class edutainment app for preschool kids. Similarly, Paper Boat App launched its flagship app on July 2017, Kiddopia.
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