NODWIN Gaming, a subsidiary of Nazara Technologies, has secured $28M in funding from existing and new investors. The majority of the funds will be utilized to grow NODWIN’s gaming and esports ecosystem, including expanding and incubating new intellectual properties (IPs), expanding into emerging markets, and making strategic acquisitions.
NODWIN Gaming raises $28M (INR 232 cr) of equity investment from 5 Investors
The funding round includes participation from Nazara, KRAFTON, Inc., JetSynthesys, and other investors. NODWIN Gaming‘s valuation has increased to $349M post-money, marking a significant growth of 2.7X in just two years.
The company aims to become a global leader in the emerging market space and consolidate its position as a dominant player in mobile esports. Sidharth Kedia, CEO of NODWIN Gaming, led the deal, with legal advice provided by Murtaza Somjee from Jerome Merchant + Partners.
“I am extremely grateful and blessed that we have been able to exhibit a Revenue CAGR of 68% over the last 2 years in a tumultuous market. We have managed this growth while being able to maintain profitability in our business and gain a global dominant position in mobile esports while delivering shareholder value. The team in NODWIN led by cofounder Gautam Virk has been instrumental in manifesting this vision to reality.
As we migrate to the next phase of our evolution, we would like to build a global company that is a significant thought leader and the largest player in the emerging market space. We believe that the confluence of gaming, esports and youth culture are colliding extremely fast and we would like to continue to build our value proposition as a Sports media Company (with a focus on esports) to this TG by focussing on the timeshare of their mindshare as the key growth metric,” said Akshat Rathee, Co-Founder and Managing Director, NODWIN Gaming.