Mumbai-based mobile games developer Nazara Technologies Ltd has invested in vernacular social contests platform Bakbuck, the company said in a statement.
The women-focussed platform, which is currently available in Hindi, plans to expand into at least 10 other Indian languages. Nazara didn’t disclose the amount it invested in Bakbuck.
The startup will use the capital to enhance product development, acquire new users and build a community of women users, Abhinay Jain, co-founder and chief executive officer of BakBuck, said in the statement.
“Users are now looking for a more interactive, social and instant form of engagement on their mobile phones,” Jain said.
Run by Khichadi Technologies Pvt. Ltd, BakBuck aims to provide women with a safe platform where they can participate in social contests such as Antakshari and Tol Mol ke Bol. The company was founded in August 2018 by Jain, Shashank Kakrecha and Rohit Naidu.
“Nazara has successfully built a very strong network of younger audience through its investments and offerings in sports-based mobile games,” said CEO Manish Agarwal. “It is now looking at building the largest and most secure platform for virtual kitty parties where housewives can interact with each other freely and securely and enjoy a multitude of entertainment options.”
The investment in Bakbuck is WestBridge Capital-backed Nazara’s second reported one this year. In March, the company was part of a Rs 40 crore Series A investment in fantasy sports startup HalaPlay Technologies Pvt. Ltd.
Nazara had, in April 2018, received approval from the Securities and Exchange Board of India to float an initial public offering. WestBridge was expected to sell four-fifths of its holding in the IPO, with its stake reducing to 3.48% after the IPO compared with its pre-IPO stake of 22.69%. However, Nazara has not yet gone public.
Nazara has acquired several mobile gaming projects from emerging markets around the world, including in India, West Asia and Latin America. It also recently invested in NZWorld Kenya Ltd to help set up real money gaming operations in Kenya.