Indian esports firm Nodwin Gaming said it has raised US$22.4 million in investment from South Korean gaming firm Krafton.
Krafton is the company behind games such as PlayerUnknown’s Battlegrounds, Tera, Golf King, and Castle Burn.
Formed in 2014, Nodwin Gaming works with the likes of gaming giants ESL, Valve, Tencent, Riot Games, and Blizzard to help them host events, provide commentary, and produce and license content, among others.
In 2018, it was acquired by Nazara Technologies, which will continue to own a stake of over 50% in Nodwin Gaming following the investment.
With the new funds, the gaming startup aims to push the development of esports in South Asia, the Middle East, and Africa, by supporting talent, providing better gaming infrastructure and technology, as well as execute tournaments at the national and international level.
Previously, the Indian firm received investments from Nazara Technologies (a firm backed by Indian business magnate Rakesh Jhunjhunwala) and JetSynthesys, which is backed by Infosys’ co-founder Kris Gopalakrishnan.
“Esports will be a key pillar to the growth of sports entertainment in the future. It sits at a wonderful intersection of sports, entertainment and technology where nations such as India can pave the path,” said Akshat Rathee, co-founder and managing director at Nodwin Gaming.
In India, the aggregate revenue of esports firms hit US$68 million last year and is expected to grow by 36% at a compound annual growth rate in the next three years, according to a report.
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