India-based esports and gaming agency Nodwin Gaming introduced that it has secured a $22.5M USD (164 Crore INR) funding from South Korean sport developer and writer Krafton, Inc. Nodwin is a subsidiary of Mumbai-based gaming and sports activities media platform firm Nazara Applied sciences, whereas Krafton is greatest often called the proprietor and writer of PUBG and PUBG Cell.
Talking to The Esports Observer on Monday, Nodwin Gaming co-founder and Managing Director Akshat Rathee mentioned that the funding can be used to scale up in areas the place it already has a foothold and develop past these borders. These areas embrace South Asia, Africa, and the Center East (with a deal with persevering with to work from Dubai). It would additionally use the funds to proceed to construct out infrastructure and make enhancements in its current operations, and help expertise.
Past increasing its footprint in and round areas the place it already has a presence, Rathee mentioned that this funding will enable the corporate to contemplate creating franchising fashions and to contemplate constructing out esports round “actual sports activities” akin to Cricket and soccer in India and different areas the place the sports activities are tremendous in style.
Rathee declined to reveal in percentages how a lot of a stake Krafton would have in Nodwin, citing future plans by its father or mother firm to file for an IPO within the not-too-distant future, and Krafton’s plans to do the identical within the subsequent 12 – 18 months.
This newest spherical of funding follows earlier investments from Rakesh Jhunjhunwala-backed Nazara Applied sciences Restricted and JetSynthesys Non-public Restricted backed by Infosys Restricted co-founder Kris Gopalakrishnan. Nazara will proceed to have an “over 50%” stake in Nodwin, in keeping with the announcement.
On the finish of the day, Rathee says that Nodwin will proceed to function because it has been with extra help from Krafton and it’s not locked down in what it’s doing now or sooner or later.
“It is a minority funding [Krafton], not a majority funding,” Rathee mentioned. This isn’t me promoting my soul to Krafton. I feel it’s the opposite manner round. I feel that we give them extra choices to exit and do new esports the world over. They usually haven’t ever requested Nodwin to not do something besides Krafton video games like PUBG. They’re saying ‘do no matter is the correct factor to do.’”
The Esports Observer could have extra on this newest funding in Nodwin and different company-related subjects from Rathee in an interview to be revealed later this week. Keep tuned.