PUBG’s parent company Krafton has invested $22.4 million in India’s esports company Nodwin Gaming to “engage with its fans and players in India”.
“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. Gautam and I, the Co-Founders of NODWIN Gaming, continue our journey with all of our existing investors reinforcing their faith in us,” said Akshat Rathee, Co-Founder and Managing Director, NODWIN Gaming.
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Krafton, which is reportedly planning to go public on Korea Exchange Market in the second half of 2021, aims to keep some presence in India with this investment.
Indian government banned PUBG Mobile and 117 other chinese apps due to cybersecurity concerns back in September. Since then, Krafton has been trying to make PUBG Mobile return to India in a new avatar. The company also announced in November that it plans to make investments worth $100 million in India, one of its biggest markets.
Changhan Kim,CEO of KRAFTON said in a statement that, “KRAFTON is excited to partner with NODWIN Gaming to help foster the promising esports ecosystem and engage with our fans and players in India.” He added, “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.”
“Post the transaction, Nazara will continue to own a stake in excess of 50% in NODWIN Gaming. Nazara invested into NODWIN Gaming in 2018 and this investment has created a value in excess of 6.44X in 3 years.” Nodwin Gaming said in the statement.