Gaming and sports media company, Nazara Technologies Ltd on Tuesday said it has invested Rs. 83.5 crore in Paper Boat Apps, a Mumbai based indie studio. The company has acquired a majority stake of 51 percent at a pre-money valuation of Rs 154 crore.

Paper Boat Apps is the creator and publisher of Kiddopia, a subscription-based preschool edutainment app. It was founded in 2013 by husband-wife duo, Anupam and Anshu Dhanuka as a boot-strapped startup to create world-class edutainment apps for preschool kids.

Kiddopia offers a wide array of interactive games and activities that foster cognitive development, self-expression and also social-emotional learning. Till date, the app has been downloaded by more than 2.5 million parents around the world and has over 100,000 active subscribers.

“Kiddopia addresses the concern where young children are found to consume digital content through their parent’s devices. Kiddopia offers a positive alternative while bringing high quality, curated educational content packaged within an entertaining framework that keeps both kids healthy and parents happy. Kiddopia will be leveraged to over 100 million users through the Nazara network,” said Nitish Mittersain, founder and managing director, Nazara Technologies Ltd.

Nazara has invested in mobile gaming companies such as Mastermind Sports Ltd and MoongLabs Technologies Pvt Ltd.

First Published:Oct 16, 2019 7:00 AM IST