Nazara Technologies’ esports subsidiary NODWIN Gaming plans to raise $28 million in funds from new and existing investors where existing investors Nazara, Krafton and JetSynthesys will participate.
The funds will be used to expand and incubate new intellectual property, as well as to expand into new markets. The funds will also be used to fund strategic acquisitions that add value to the company’s network. NODWIN Gaming is an esports company that operates a slew of gaming and sports entertainment IPs and leverages synergies across domains to provide customers with sports-related products and services.
According to regulatory filings, Nazara has signed definitive and binding documents for NODWIN to raise capital from both existing and new investors. NODWIN Gaming will be valued at $325 million (INR 2,2624 crore) pre-money and $349 million (INR 2,887 crore) post-money.
“… 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 focusing on timeshare of their mindshare as the key growth metric,” said Akshat Rathee, cofounder and managing director of NODWIN Gaming.