Written by Dante Uzel on 05 December 2024 15:39
NODWIN Gaming, has announced that its parent company, Nazara Technologies Limited, has approved an investment of $7.5m into the organization.
To bolster its goal of becoming a leading force in new-age media, gaming, and esports across emerging markets, NODWIN Gaming’s board has approved a private funding round. Both the NODWIN and NAZARA boards have authorized the issuance of convertible preferred shares, marking NAZARA as the first investor to back this initiative.
The funds raised will be allocated towards accelerating NODWIN’s growth strategy, including enhancing its capabilities, expanding its intellectual property (IP) portfolio, and strengthening its presence in new geographies.
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NODWIN Gaming has achieved remarkable growth through both organic initiatives and strategic acquisitions. The company reported a 91% quarter-on-quarter and 111% year-on-year increase in revenue in its recently released Q2 FY24 financial results. Future plans include investments in Comicon India and the acquisition of Trinity Gaming.
Akshat Rathee, Co-founder and Managing Director of NODWIN Gaming, stated: "We would like to extend our sincere gratitude to Nazara Technologies for their unwavering support and trust in the NODWIN Gaming vision every step of the way. Their belief in our mission has been instrumental in driving our progress and success. 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 mindshare of the global youth."
In recent years, NODWIN has significantly expanded its portfolio through strategic acquisitions. These include the German esports and gaming marketing agency Freaks 4U Gaming, the events platform Comic Con, the West Asia and Turkey-focused marketing firm Publishme, the Singapore-based live events company Branded, and the Turkish esports and gaming company Ninja Global.
Tags: NODWIN Gaming
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