Esports firm NODWIN Gaming raises 164 Cr of equity investment from South Korean Gaming firm KRAFTON
Nazara Technologies' subsidiary, NODWIN Gaming solidifies its presence as a key player in esports globally
MUMBAI, India, March 9, 2021 /PRNewswire/ -- Built on the world's largest youth demographic and fuelled by affordable smartphone and data prices,esports has seen a surging demand which has led to NODWIN Gaming receiving a minority investment from South Korean Gaming firm KRAFTON.
Sharing the vision of their investors, NODWIN Gaming intends to channelize these funds to accelerate the development of esports in South Asia, Middle East and Africa, support talent, provide better gaming infrastructure and technology and conceptualise,organize and execute a multitude of tournament IPs at the national and international level.
This round of funding follows previous investments from Rakesh Jhujhunwala-backed Nazara Technologies Limited and from JetSynthesys Private Limited backed by Infosys Limited co-founder Kris Gopalakrishnan.
"Esports will be a key pillar to the growth of sports entertainment in the future. It sits at a wonderful intersection of Sports, Entertainment and Technology where nations such as India can pave the path. With KRAFTON coming on board, we have an endorsement from the mecca of Gaming and esports - South Korea,on what we are building from India for the world based on our competence in mobile first markets. Gautam and I, the Co-Founders of NODWIN Gaming, continue our journey with all of our existing investors reinforcing their faith in us," said Akshat Rathee, Co-Founder and Managing Director, NODWIN Gaming.
KRAFTON is one of the top gaming companies in South Korea and is the creators of intellectual properties and games such as PLAYERUNKNOWN'S BATTLEGROUNDS(PUBG)s, TERA, Golf King, Castle Burn among others.
Changhan Kim,CEO of KRAFTON said, "KRAFTON is excited to partner with NODWIN Gaming to help foster the promising esports ecosystem and engage with our fans and players in India." He added, "Taking the momentum from this partnership, we will explore additional investment opportunities in the region to uphold our commitment and dedication in cultivating the local video game, esports, entertainment, and tech industries."
Post the transaction, Nazara will continue to own a stake in excess of 50% in NODWIN Gaming. Nazara invested into NODWIN Gaming in 2018 and this investment has created a value in excess of 6.44X in 3 years.
About NODWIN Gaming:
Formed in 2014, NODWIN Gaming is an independent subsidiary of mobile gaming company Nazara Technologies. It has quickly cemented its place as the leading esports companies in South Asia, Middle East and Africa.
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