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 Technologies, whereas Krafton is greatest referred to as the proprietor and writer of PUBG and PUBG Mobile.
Talking to The Esports Observer on Monday, Nodwin Gaming co-founder and Managing Director Akshat Rathee mentioned that the funding will probably be used to scale up in areas the place it already has a foothold and develop past these borders. These areas embody South Asia, Africa, and the Center East (with a concentrate on persevering with to work from Dubai). It can additionally use the funds to proceed to construct out infrastructure and make enhancements in its present operations, and assist 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 think about creating franchising fashions and to think about constructing out esports round “actual sports activities” reminiscent of Cricket and soccer in India and different areas the place the sports activities are tremendous fashionable.
Rathee declined to reveal in percentages how a lot of a stake Krafton would have in Nodwin, citing future plans by its guardian 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, based on the announcement.
On the finish of the day, Rathee says that Nodwin will proceed to function because it has been with further assist 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 believe it’s the opposite manner round. I believe 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 best factor to do.’”
The Esports Observer can have extra on this newest funding in Nodwin and different company-related matters from Rathee in an interview to be printed later this week. Keep tuned.