NODWIN Gaming raises 164 Cr of equity investment from KRAFTON Inc.
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 Jhunjhunwala-backed Nazara Technologies Limited and from Jet Synthesys 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.
Sidharth Kedia, CEO, NODWIN Gaming, on the fund raise: "In my first year at NODWIN, my immense belief in the future of esports and the vision of Akshat has doubled. In this period I have seen some critical milestones being achieved in that journey and this funding from KRAFTON is not only a validation of our collective belief but also puts us in the driver's seat for our next growth frontier. We are extremely excited about this partnership and what lies ahead."
KRAFTON is one of the top gaming companies in South Korea and is the creators of intellectual properties and games such as PLAYER UNKNOWN’S BATTLE GROUNDS (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.
Manish Agarwal CEO Nazara technologies said “We at Nazara congratulate the NODWIN Gaming team on the KRAFTON investment and it is a strong testimony of their leadership position in esports in India. Nazara has been an early and strong believer in the potential of esports to disrupt the sports entertainment market and 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 future.”
Rajan Navani, VC and MD, JetSynthesys, the founder investor who helped envision NODWIN Gaming at the conception stage itself said “We identified the early opportunity in esports as a key pillar to build the gaming ecosystem in India and this investment is an endorsement of the tremendous potential of esports in the journey of a new Atmanirbhar Bharat. Akshat, Gautam and other members of the founding team are true gems of a youthful India that is raring to conquer the world and we at JetSynthesys are excited about what the future holds for us.”