Nazara invests Rs.83.5 cr in India’s largest kids subscription company Paper Boat Apps

Nazara Technologies Ltd., an interactive gaming and digital sports media company, said it has invested Rs.83.5 crore in Paper Boat Apps, a Mumbai-based studio.

The company has acquired a majority stake of 51% 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 it's 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.”

Nitish Mittersain, Founder and MD, Nazara Technologies Ltd. said Kiddopia "will be leveraged to over 100 million users through the Nazara network”.

Paper Boat Apps 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. In July 2017, Paper Boat Apps launched their flagship app, Kiddopia.