NODWIN Gets INR 64 Cr Infusion From Nazara For Global Expansion

Listed gaming major Nazara Technologies is set to inject INR 64 Cr (around $7.5 Mn) into its subsidiary NODWIN Gaming International to drive growth and global expansion.

In a statement today (December 5), NODWIN Gaming announced that Nazara Technologies has approved an investment of INR 64 Cr via convertible preferred stock. The company said that this move positioned Nazara as the first investor in NODWIN Gaming’s upcoming private financing round.

The fresh capital will help NODWIN Gaming to boost its capabilities, expand portfolio of intellectual properties (IPs) and bolster its presence in emerging markets.

NODWIN Gaming’s cofounder and MD Akshat Rathee said, “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 the mind share of the global youth.”

On the back of this, NODWIN Gaming also claimed a 91% increase in revenue quarter-on-quarter (QoQ) and a 111% increase year-on-year (YoY) for Q2 FY24.  The company also informed that as of Nov 2024, Nodwin Gaming was valued at $410 Mn or INR 3,441 Cr.

In June, NODWIN claimed that it contributes 37% to Nazara’s total revenue, having grown 25X in just six years. Its revenue surged from a modest INR 18 Cr in FY18 to INR 427 Cr in FY24.

The development comes less than a week after NODWIN Gaming acquired a gaming agency and platform Trinity Gaming for INR 24 Cr ($2.8 Mn). Earlier in November, Nazara raised INR 855 Cr ($101.3 Mn) from SBI Mutual Fund, Caratlane founder Mithun Sacheti, Aamara Capital, among others.

It is pertinent to note that NODWIN Gaming has been deploying acquisitions to fuel its growth lately. 

NODWIN’s list of acquisitions includes Ninja Global FZCO, India’s Comic Con, the German esports and gaming marketing agency Freaks 4U Gaming, the West Asia and Turkey-focused marketing agency Publishme, the Singapore-based live events firm Branded, and the Turkish esports and gaming company Ninja Global. 

Founded in 2014 by Akshat Rathee and Gautam Virk, NODWIN Gaming is gradually emerging as a youth-centric recreational, entertainment company with esports being its primary focus area.

It is pertinent to note that the online gaming industry is still grappling with vague regulations as well as the aftermath of the Centre’s decision last year to hike the goods and services tax (GST) on online games and casinos from 18% to 28%. 

Shares of Nazara were trading 0.4% above at INR 1030.20 at 2:30 PM on the BSE.