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NODWIN Gaming secures Rs 64 Crore investment from Nazara Technologies; valuation reaches Rs 3441 Crore
In addition to Nazara, Krafton, JetSynthesys and Sony Group are existing shareholders in NODWIN Gaming.
NODWIN Gaming's Board has approved plans to initiate a private financing round to accelerate the company's vision of becoming the new age youth media, gaming and esports firm across emerging markets.
NODWIN Gaming has announced that its parent company, Nazara Technologies Limited, has approved an investment of Rs 64 Crore in NODWIN Gaming. Prior to this investment, as of Nov 2024, Gurgaon-based Nodwin Gaming was valued at Rs 3,441 Crore.
In addition to Nazara, Krafton, JetSynthesys and Sony Group are existing shareholders in NODWIN Gaming.
NODWIN Gaming's Board has approved plans to initiate a private financing round to accelerate the company's vision of becoming the new age youth media, gaming and esports firm across emerging markets. As the first investor backing this investment, NAZARA and NODWIN boards have both ratified this investment that is in the form of convertible preferred stock.
Akshat Rathee, Co-founder and MD, NODWIN Gaming said, "We would like to extend our sincere gratitude to Nazara Technologies for their unwavering support and trust in the NODWIN Gaming vision every step of the way. Their belief in our mission has been instrumental in driving our progress and success. As we continue on our growth and expansion journey, we remain fully committed to building a truly global company coming from India that leads with innovation, expanding our capabilities in New age media in emerging markets. Our focus is on capturing the attention and Timeshare of Mindshare of the global youth."
As per the company, the funds raised in this round will be primarily allocated to fuel NODWIN Gaming’s ongoing expansion momentum, focusing on enhancing its capabilities, growing its portfolio of intellectual properties (IPs), and strengthening its presence in emerging markets.
In Q2 FY24, revenue grew 91% on a QoQ basis and 111% on a YoY basis. Recently, NODWIN has expanded its portfolio with several strategic acquisitions, including the German esports and gaming marketing agency Freaks 4U Gaming, events company Comic Con, West Asia and Turkey-focused marketing agency Publishme, Singapore-based live events firm Branded, and Turkish esports and gaming company Ninja Global.
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