Nazara’s NODWIN Gaming Invests INR 33 Cr In German Firm Freaks 4U Gaming Via Convertible Note
Summary
With the recent investment, NODWIN aims to enhance its expertise in PC games.By joining forces, Freaks 4U Gaming GmbH and NODWIN aim to be more appealing to global consumer brands and game publishers, providing a seamless operation across both emerging and developed markets.If conversion option of the convertible note is exercised the same will be converted into 7,366 shares at a future date/conversion date. It involves investors lending money to a startup with the intention of converting it into equity at a later milestone, often the next equity financing round.Earlier this year, NODWIN Gaming was planning to raise $28 Mn (INR 232 Cr) as part of a strategic funding round from new and existing investors. As per regulatory filings, Nazara has signed definitive and binding documentation for NODWIN to raise the capital from existing as well as new investors.Back then Nazara said that NODWIN will utilise the fresh capital to expand and incubate new IPs as well as to venture into new territories.NODWIN Gaming has been on an acquisition spree this year. In April last year, the esports company also picked up a 35% stake in gaming accessories brand Wings for INR 10.01 Cr. Prior to that, NODWIN acquired a 100% stake in licensed merchandising D2C brand Planet Superheroes in January 2022.Its parent company also raised a fresh capital of INR 510 Cr from investors including Zerodhas Nikhil Kamath and SBI Mutual Fund.