After raising $28 M, gaming firm Nodwin raises its valuation to $349 M
Summary
In order to expand its gaming and esports ecosystem in India, Nodwin Gaming claimed it has secured US $28 million in funding from both new and existing investors.Nodwin, a division of media platform Nazara Technologies, claimed that with the round, its post-money valuation had increased to US $349 million. It also stated that over the previous two years, its revenue had increased at a compound annual growth rate of 68%.The identities of the five investors who took part in this round were kept a secret by Nodwin.According to a statement, the gaming company will use the additional funds to expand and incubate newer intellectual properties, increase its presence in emerging markets, and make strategic acquisitions.It was established in 2014 and collaborates with gaming behemoths like ESL, Valve, Tencent, Riot Games, and Blizzard to host events, offer commentary, produce and license content, among other things.After the most recent funding round, Nazara, which purchased Nodwin in 2018, will hold nearly 55% of the subsidiary, according to The Arc.The South Korean gaming company Krafton, which led Nodwins US$22.4 million round in 2021, is one of its current investors.