Nazara subsidiary Nodwin Gaming raises $28m at $349m valuation

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Nodwin Gaming said it has secured US$28 million in funding from new and existing investors to grow its gaming and esports ecosystem in India.

With the round, Nodwin, a subsidiary of media platform Nazara Technologies, said its post-money valuation has reached US$349 million. It added that its revenue has grown by a compound annual growth rate of 68% in the last 2 years.

Nodwin didn’t disclose the names of five investors participating in this round.

Funding details

• Funding amount: US$28 million
• Stage: Series A
• Valuation: US$349 million

The gaming firm will use the fresh funds to expand and incubate newer intellectual properties, grow its emerging market footprint, and make strategic acquisitions, according to a statement.

Formed in 2014, it works with the likes of gaming giants ESL, Valve, Tencent, Riot Games, and Blizzard to help them host events, provide commentary, and produce and license content, among others.

In 2018, Nodwin was acquired by Nazara, which will own nearly 55% of the subsidiary after the latest funding round, according to The Arc.

Nodwin’s existing investors include South Korean gaming firm Krafton, which led its US$22.4 million round in 2021.

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