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Nodwin Gaming, a division of Nazara Technologies, revealed on Thursday that it had closed a $28 million investment round. There was a mixture of new and existing investors who contributed to the investment.
In a statement, Nodwin Gaming mentioned that the raised funds will be utilized for several purposes. These include expanding and incubating new intellectual properties (IPs), strengthening Nodwin's presence in emerging markets, and making strategic acquisitions that will enhance the value of the network, as per reported by Yourstory.
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“We have been able to exhibit a revenue CAGR (compounded annual growth rate) of 68% over the last 2 years in a tumultuous market. We have managed this growth while being able to maintain profitability in our business and gain a globally dominant position in mobile esports" said Akshat Rathee, Co-Founder and Managing Director, of NODWIN Gaming.
According to Rathee, Nodwin intends to enhance its value proposition as a sports media company with a particular emphasis on esports, taking advantage of the increasing intersection of gaming, esports, and youth culture.
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Sidharth Kedia, CEO of NODWIN Gaming, took the lead in orchestrating this agreement, while Murtaza Somjee, from Jerome Merchant + Partners, provided legal counsel.
About Nodwin Gaming
Nodwin Gaming, an Indian company founded in 2015, supports both the domestic and global gaming and esports industries.
The business offers knowledge and solutions in every area covered by the large umbrella of the esports sector, driven by creative ideas and passion. NODWIN Gaming is driven to have an effect on the world and is always hungry. The firm makes investments in developing economies all over the world. At this time, South Africa, South Asia, and the UAE have all been included in its expansion.
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