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Today, Nokia released the beta version of Z Launcher in Google Play. Currently the Z Launcher isnt supported in Lollipop devices. Z Launcher officials mentioned it supports Android 4.1 to 4.4 devices but it doesnt. I have a Galaxy S3 with Android 4.3 but the Google Play says "This app is incompatible with all of your devices".

Update:
Recent version of Nokia Z Launcher Supports with Galaxy S3.

According to Android Police, Z Launcher is something like a Yahoo Aviate Launcher with Google Gesture search. As it tagged beta, it may have some bugs which will fix on the upcoming versions.