Venture capital fund Vereeni Investments has struck a deal with the fantasy sports operator Nostragamus. The agreement will see Vereeni taking a important stake in Nostragamus in exchange for a seven-figure amount.
Nostragamus runs a famous mobile app that has been downloaded more than 5 million times and provides a further half a million new downloads every month.
Nostragamus enables players to design squads and forecast outcomes across a spectrum of games, including cricket, football, basketball, volleyball, badminton and kabaddi, with a opportunity to earn real-money awards. The provider achieved significant achievement in the fast-growing Indian market.
“We have chosen to make a significant investment in Nostragamus because we are hugely impressed by its team and the speed at which it has scaled. India is an exciting market for the gaming industry, and Nostragamus’ innovative marketing and world-class product proposition places it at the head of the field,” Timothy John Heath, founder and CEO of Vereeni Investments said.
“This investment from Vereeni will not only help us accelerate our growth, but also give us access to an unparalleled network of international iGaming expertise. We are thrilled to join the Vereeni network and look forward to further pushing forward the fantasy sports vertical over the coming months and years,” Yashashvi Takallapalli, CEO of Nostragamus said.