Nodwin Gaming, an Indian esports and gaming enterprise, has acquired a USD 22.5 million (164 crore INR) investment from South Korean game maker and publisher Krafton, Inc.
Akshat Rathee, co-founder and managing director of Nodwin Gaming, said: “Esports 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.”
Sharing his delight, 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. 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.”
Nodwin Gaming has developed itself as one of India’s biggest sporting companies, a subsidiary of local gaming giant Nazara. Nazara Technologies, which invested in 2018 in Nodwin Gaming, would remain more than 50 percent stakeholder.
Manish Agarwal of CEO, Nazara Technologies said: “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.”
Nodwin Gaming is well known for its work and presence in mobile esports and has partnered with ESL, Valve, Tencent, Riot Games, and Blizzard to bring esports experiences to Indian gamers. After the company opened its first overseas office last year in Johannesburg, Africa, it has made new investments. Krafton’s minority investment is projected to further drive Nodwin growth in South Asia, the Middle East, and Africa. Additional funding would allow Nodwin to promote creativity, enhance gaming facilities and technologies, and organize a multitude of national and international tournament IPs.