NODWIN Gaming To Raise $28 Mn Funding From Parent Nazara, Krafton, Others

NODWIN Gaming To Raise $28 Mn Funding From Parent Nazara, Krafton, Others

SUMMARY

Nazara has signed definitive and binding documentation for NODWIN to raise the capital from existing as well as new investors

The esports startup will use the funding to expand and incubate new IPs, fuel expansion and drive strategic acquisitions

NODWIN Gaming will be valued at a pre-money valuation of $325 Mn and post-money valuation of $349 Mn

Nazara Technologies’ esports subsidiary NODWIN Gaming plans to raise $28 Mn (INR 232 Cr) as part of a strategic funding round from new and existing investors. 

As per regulatory filings, Nazara has signed definitive and binding documentation for NODWIN to raise the capital from existing as well as new investors. 

In a release, the gaming company said that existing investors Nazara, Krafton and JetSynthesys will participate in the funding round. However, it didn’t disclose the name of the new investors.

The funding will be utilised to expand and incubate new IPs as well as to venture into new territories. The investment will also be deployed to drive strategic acquisitions that drive value to the company’s network. 

NODWIN Gaming will be valued at a pre-money valuation of $325 Mn (INR 2,2624 Cr) and a post-money valuation of $349 Mn (INR 2,887 Cr). 

“… we would like to continue to build our value proposition as a sports media company (with a focus on esports) to this TG (target group) by focussing on the timeshare of their mindshare as the key growth metric,” said NODWIN Gaming’s cofounder and managing director Akshat Rathee.

Founded in 2014 by Akshat Rathee and Gautam Virk, NODWIN Gaming is an esports company that operates a slew of gaming and sports entertainment IPs and leverages its synergies across different domains to offer sports-related products and services to customers. 

The new fundraise comes two years after NODWIN bagged $22.4 Mn investment from PUBG maker Krafton at a valuation of $135 Mn. Since then, the startup has scaled up manifold and has been on an acquisition spree recently. 

NODWIN’s M&A Spree

Last month, NODWIN acquired a 51% stake in mediatech startup Branded in an all-cash deal worth $1.3 Mn. In April last year, the esports company also picked up a 35% stake in gaming accessories brand Wings for INR 10.01 Cr. Prior to that, NODWIN acquired a 100% stake in licensed merchandising D2C brand Planet Superheroes in January 2022. 

Its parent company has also been on an acquisition spree as earlier this month, Nazara announced that it was purchasing an additional 19.5% stake in its subsidiary Nextwave for INR 15.5 Cr. 

Nazara-owned Sportskeeda also acquired 73.27% stake in Pro Football Network for $1.82 Mn in March 2023. Last year, multiple subsidiaries of Nazara also increased their stakes in other startups such as Datawrkz and WildWorks.

Nazara’s topline and bottomline has also been growing. Nazara reported a consolidated net profit of INR 61.4 Cr in the fiscal year 2022-23 (FY23), up 21% year-on-year (YoY). Revenue from operations also breached the INR 1,000 Cr mark, rising 75% YoY to INR 1,091 Cr in the year ended March 2023. 

Shares of Nazara Technologies closed 2.4% higher at INR 580.85 on the BSE on Thursday (May 18). 

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

NODWIN Gaming To Raise $28 Mn Funding From Parent Nazara, Krafton, Others-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

NODWIN Gaming To Raise $28 Mn Funding From Parent Nazara, Krafton, Others-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

NODWIN Gaming To Raise $28 Mn Funding From Parent Nazara, Krafton, Others-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

NODWIN Gaming To Raise $28 Mn Funding From Parent Nazara, Krafton, Others-Inc42 Media
NODWIN Gaming To Raise $28 Mn Funding From Parent Nazara, Krafton, Others-Inc42 Media
You’re in Good company