Nodwin Gaming, an India-based esports services subsidiary of video game publisher Nazara Technologies, has secured Rs 1.64bn ($22.5m) from South Korea-headquartered peer Krafton.
Founded in 2015, Nodwin produces esports tournaments and events in addition to content, helping players, audiences and brands connect with each other. Its initial focus was in South Asia but it has since expanded to South Africa and the United Arab Emirates.
The cash will support further development of the company’s business in South Asia, the Middle East and Africa, as well as technology improvement and talent recruitment.
Nazara had provided an undisclosed amount for Nodwin in 2018 and will continue to hold a stake sized above 50% after the latest deal. Video game publisher JetSynthesys was identified by the company as an early backer, without disclosing when it invested.
Akshat Rathee, co-founder and managing director of Nodwin Gaming, said: “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.”
