NODWIN Gaming, a sister company of Nazara Technologies, has now secured INR 164 crore from Krafton, the South Korean developer of the PUBG.
NODWIN Gaming plans to use these to accelerate the development of esports in Africa, the Middle East, and South Asia, and also invest in the talent, new tournament IPs at the national and international level, and better gaming infrastructure.
The round also follows the earlier investments backed by the JetSynthesys and Nazara. NODWIN’s newest investor, Krafton, is one of South Korea’s leading game developers and owns IPs of the popular titles, which includes the TERA, PUBG, Castle Burn, Golf King, and among others.
Changhan Kim, CEO of Krafton, said in a statement,
“KRAFTON is excited to partner with NODWIN Gaming to help foster the esports ecosystem and engage with our fans and players in India. Taking the momentum from this partnership, we will explore additional investment opportunities in the region for cultivating the local video game, esports, entertainment, and tech industries.”
Akshat Rathee, Co-Founder & Managing Director, NODWIN Gaming, said, “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.”
Post funding, the Nazara will continue to own a majority stake in excess of 50% in the NODWIN Gaming. The former had backed the latter in the year 2018 and has also seen its investment grow 6.44X in three years.
Manish Agarwal, CEO of Nazara Technologies, noted, “Nazara has been an early and strong believer in the potential of esports to disrupt the sports entertainment market. We believe this partnership between Krafton and the Nazara Group will accelerate the growth of esports and open doors for collaboration between Indian and Korean gaming companies in the future.”
Also read: AeroPay secured $5+ Million in funding round