Industry venture capital fund Vereeni Investments has confirmed a ‘seven-figure’ investment in fast-growth Indian fantasy sports app ‘Nostragamus’.
Vereeni undertakes its enterprise investment in Nostragamus, participating in a funding round led by Mumbai-based investment bank Incorp Advisory.
In its investment notes, Vereeni underlines Nostragamus popularity with Indian sports fans, which seen its app record +5 million downloads to date, whilst currently adding half a million new downloads every month.
Timothy John Heath, founder and CEO of Vereeni Investments, said: “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.”
Vereeni details Nostragamus as its second major seed investment in a daily fantasy sports venture, with the Indian outfit joining its existing stake in Australia-facing Moneyball.
Nostragamus is founded and led by former McKinsey India associate, Yashashvi Takallapalli, establishing the enterprise in Bangalore, developing new engagement functions for India’s $/€ multi-billion sports market
Yashashvi Takallapalli, CEO Nostragamus, 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.”