Indian Gaming Firm, Nodwin raises $22.4 Million from PUBG developer Krafton
Indian Gaming Firm, Nodwin raises $22.4 Million from PUBG developer Krafton
Krafton, A South Korean gaming firm, best known for its intellectual properties and games such as Player Unknown Battlegrounds (PUBG), TERA, Golf King, Castle Burn, etc. has invested $22.4 million in India's esports and gaming firm, Nodwin Gaming.
Nodwin Gaming is a subsidiary of local gaming giant Nazara, which was founded in 2014. Nazara Technologies had invested in Nodwin Gaming in 2018 and will continue to own over 50 percent stake in Nodwin.
"Esports will be a key pillar to the growth of sports entertainment in the future. It sits at a wonderful intersection of sports, entertainment, and technology where nations such as India can pave the path. With Krafton coming on board, we have an endorsement from the mecca of gaming and esports — South Korea — on what we are building from India for the world based on our competence in mobile-first markets," said AkshatRathee, Co-Founder and Managing Director, Nodwin Gaming, in a statement.
118 Chinese apps including PUBG were banned by the Indian government over national security concerns last year. Krafton's investment makes efforts to bring back the popular PUBG Mobile in India. It announced a partnership with Microsoft to leverage the Azure cloud platform for its games.
"Krafton is excited to partner with Nodwin Gaming to help foster the promising esports ecosystem and engage with our fans and players in India, taking the momentum from this partnership, we will explore additional investment opportunities in the region to uphold our commitment and dedication in cultivating the local video game, esports, entertainment, and tech industries," said, Chang Han Kim, CEO, Krafton.
The company intends to channelize these funds to accelerate the development of esports in South Asia, the Middle East, and Africa to support talent, provide better gaming infrastructure and technology and conceptualize, organize and execute a multitude of tournament IPs at the national and international level.
PUBG Corporation had merged with Krafton in December 2020 to launch an Indian-specific version of PUBG Mobile in the country. The company said, it would launch an Indian entity and would invest $100 Mn to develop the esports ecosystem in the country.
However, RTI replies from the Indian government have indicated that the ban on any of the banned apps will not be lifted.
Krafton, A South Korean gaming firm, best known for its intellectual properties and games such as Player Unknown Battlegrounds (PUBG), TERA, Golf King, Castle Burn, etc. has invested $22.4 million in India's esports and gaming firm, Nodwin Gaming.
Nodwin Gaming is a subsidiary of local gaming giant Nazara, which was founded in 2014. Nazara Technologies had invested in Nodwin Gaming in 2018 and will continue to own over 50 percent stake in Nodwin.
"Esports will be a key pillar to the growth of sports entertainment in the future. It sits at a wonderful intersection of sports, entertainment, and technology where nations such as India can pave the path. With Krafton coming on board, we have an endorsement from the mecca of gaming and esports — South Korea — on what we are building from India for the world based on our competence in mobile-first markets," said AkshatRathee, Co-Founder and Managing Director, Nodwin Gaming, in a statement.
118 Chinese apps including PUBG were banned by the Indian government over national security concerns last year. Krafton's investment makes efforts to bring back the popular PUBG Mobile in India. It announced a partnership with Microsoft to leverage the Azure cloud platform for its games.
"Krafton is excited to partner with Nodwin Gaming to help foster the promising esports ecosystem and engage with our fans and players in India, taking the momentum from this partnership, we will explore additional investment opportunities in the region to uphold our commitment and dedication in cultivating the local video game, esports, entertainment, and tech industries," said, Chang Han Kim, CEO, Krafton.
The company intends to channelize these funds to accelerate the development of esports in South Asia, the Middle East, and Africa to support talent, provide better gaming infrastructure and technology and conceptualize, organize and execute a multitude of tournament IPs at the national and international level.
PUBG Corporation had merged with Krafton in December 2020 to launch an Indian-specific version of PUBG Mobile in the country. The company said, it would launch an Indian entity and would invest $100 Mn to develop the esports ecosystem in the country.
However, RTI replies from the Indian government have indicated that the ban on any of the banned apps will not be lifted.
.jpg "Multycomm : Streamlining Enterprise Communications for an Enhanced Customer Experience & Brand Connect")
