Nazara Technologies bought a 15.86 percent share in the esports community platform Stan by paying its current investors Rs 18.4 crore ($2.2 million) in cash.

The investment is claimed to be made through Nazara Dubai FZ,Nazara Technologies’ wholly owned subsidiary.

Stan stands as an esports fan engagement firm founded by Parth Chadha, Nauman Mulla, and Rahul Singh.

The firm enables interaction and support between gamers and content creators by providing necessary tools for the same.

Stand holds over 12 million users till date and more than 80 percent are observed to be engaging in the platform through organic and referral-based means.

Currently, it has over 500,000 users who have subscribed to the platform.

It’s said to be working on a mobile-first platform to help creators develop and monetize communities, while being able to connect users with their favorite gaming developers and individuals through digital artifacts, chat or audio rooms, and exclusive celebrity communities.

The start of this year, Stan raised $2.7 million from the Maelstrom Fund, Aptos Labs, and other sources.

The Bangalore-based business raised $2.5 million in its seed round in May 2022, with General Catalyst and other investors leading the way.

Nazara has acquired a number of companies in recent months, mostly through its esports and events division, Nodwin.

These companies include Comic Con India, Publishme, a marketing organization with a focus on Turkey and West Asia, Branded, an events company based in Singapore, and Ninja Global, a Turkish esports and gaming company.

Fusebox Games is a UK-based game firm that Nazara purchased last month for Rs.228 crore in an all-cash deal.

Earlier, the company acquired Paper Boat Apps, the developer of Kiddopia, the IP rights to Ultimate Teen Patti, and the assets of DeltiasGaming.