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'Will infuse $10 million, de-subsidiarization is not separation from Nazara,' says Akshat Rathee
Nazara acquired a 55 percent stake in Nodwin Gaming in 2018 and has infused capital in the Gurugram-based company in multiple tranches
NODWIN Gaming MD and co-founder Akshat Rathee
Nazara Technologies’ esports subsidiary NODWIN Gaming has announced to raise a fresh round of capital from existing investors. However, Nazara has distanced itself from participation in the funding round. According to Nodwin Gaming co-founder Akshat Rathee, all existing investors, including Gautam Virk, another founder of the gaming company, will be infusing a capital of $ 10 million into the company. With this move, founders will increase their stake in the company, but this will reduce Nazara's shareholdings below 50 percent. Rathee added that Nodwin will not be the subsidiary of Nazara anymore; instead, it will become an associate (without Nazara selling any shares).
Acknowledging the support of Nazara Technologies Limited (Nitish Mittersain), JetSynthesys (Rajan Navani) KRAFTON India, and KRAFTON Inc. (Sean (Hyunil) Sohn), Rathee justified the 'de-subsidarization move by saying, "As we scale into a larger, more global company with ambitions across esports, live entertainment, youth content, influencers, and gaming infrastructure, it’s time for us to stand more independently and chart our own course".
The de-subsidiarisation isn’t a separation—it’s an evolution, he added, "It’s rare to see this level of maturity and support in investor-founder relationships, and we deeply value Nazara’s continued conviction in Nodwin".
He further said that Nazara will continue to remain Nodwin's largest shareholder and hasn’t sold a single share. However, "As our capital needs grow, it is both strategic and responsible to broaden our investor base. This transition allows Nazara to focus on its core publishing and gaming investments while enabling NODWIN to bring in partners aligned with its next phase of growth," he added.
Nazara acquired a 55 percent stake in Nodwin Gaming in 2018 and has infused capital in the Gurugram-based company in multiple tranches. In December 2024, Nazara pumped in Rs 64 crore in Nodwin for business expansion and boosting its intellectual property portfolio.
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