Mumbai, India, December 19, 2024 — NODWIN Gaming announced the acquisition of AFK Gaming Pvt. Ltd., a leading gaming and esports media company subject to closing formalities. AFK Gaming will become a fully owned subsidiary of NODWIN Gaming.

This acquisition strengthens NODWIN Gaming’s esports-related content production & distribution, and marketing & PR services capabilities. These capabilities will enhance NODWIN Gaming’s offerings to brands and publishers, making it a strong one-stop-shop for all esports & gaming-related marketing activities, thereby increasing the share of wallet of marketing budgets for NODWIN Gaming.

The acquisition of 93% of the share capital of AFK Gaming will be a combination of cash and stock swap of NODWIN Gaming shares for a total consideration of INR 7.6 Crores. NODWIN already owned the balance 7% of AFK previously. As part of this transaction, the founders will become shareholders of NODWIN Gaming and be integrated into different verticals in the NODWIN Gaming ecosystem.
In 2017, NODWIN Gaming led AFK Gaming’s first round of investment as a strategic investor, helping the founders turn their hobby into a business. This acquisition completes the lifecycle of NODWIN’s strategic investment into the company, making AFK a 100% subsidiary on close.

Founded in 2012 by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, AFK Gaming has been at the forefront of the Indian gaming and esports media industry for over a decade. Apart from providing the latest updates from the industry through its website and its specially curated gaming business newsletter Pixel P&L, its agency vertical, Max Level, offers bespoke marketing services to teams, tournament organizers, game publishers, and brands looking to connect with gaming and esports audiences. This includes campaign management, IP building, content production, video editing, consultancy, social media marketing, influencer programs, and public relations & communications as well. Its clientele includes brands like ASUS ROG, CyberPowerPC India, KRAFTON, Saudi Esports Federation, ESL Faceit Group, The Esports World Cup, Jio Games, TVS, and more. Max Level has worked closely with NODWIN Gaming for a majority of its IPs and white-label solutions.

Nishant will join the founders’ office to work on strategic initiatives across the NODWIN Group while building out Pixel P&L as a media product within the company. Rakesh will be a part of the larger NODWIN team, focusing on augmenting the company’s ability to build tech-led products and Siddharth will continue to head Max Level, focusing on high-quality, cost-efficient, marketing and PR services.

This acquisition further bolsters NODWIN Gaming’s services portfolio in the gaming and esports ecosystem.

Akshat Rathee commented: “I have known Nishant, Sid, and Rakesh since the inception of AFK Gaming. We all started out at the same time, while the esports industry in India was just beginning to pick up. We have built respect for each other over time by butting heads, competing, collaborating, and supporting each other when there was little hope. I have learnt to admire their ability to persevere, pivot and be true to the fan. This focus is to be treasured. Once you have that respect and understanding of our strengths and weaknesses, working together is a natural causality. As we come together as one group, I welcome them as shareholders of NODWIN Gaming and as leaders in our group. I look forward to the many missions we will pick up and go on together.” 

Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar, Co-Founders of AFK Gaming, stated: “Joining the NODWIN group feels like a homecoming for us. When esports was barely a coined term, Akshat and us agreed to work to grow the market rather than compete in an industry that had yet to prove itself. This led to a long and trust-imbued relationship where Akshat watched over us as a friend, investor, mentor and board member. Now that the industry has matured a bit, our existing synergies with NODWIN allow us to hit the ground running and we’re confident in our ability to unlock the next level of growth for the group!”

The acquisition comes at a time when NODWIN Gaming continues to grow in India and emerging markets worldwide. This deal complements NODWIN Gaming’s recent strategic moves, including the acquisition of Trinity Gaming India, Comic Con in India, German esports and gaming marketing agency Freaks 4U Gaming, West Asia and Turkey-focused marketing agency Publishme, Singapore-based live events firm Branded, and Turkish esports and gaming company Ninja Global.

December 5th, 2024: NODWIN Gaming, a leader in new-age youth entertainment, gaming, and esports, today announced that its parent company, Nazara Technologies Limited, has approved an investment of INR 64 Crores in NODWIN Gaming.

NODWIN Gaming’s Board has approved plans to initiate a private financing round to accelerate the company’s vision of becoming the #1 new-age youth media, gaming, and esports firm across emerging markets. As the first investor backing this investment, NAZARA and NODWIN boards have both ratified this investment that is in the form of convertible preferred stock.

The funds raised in this round will be primarily allocated to fuel NODWIN Gaming’s ongoing expansion momentum, focusing on enhancing its capabilities, growing its portfolio of intellectual properties (IPs), and strengthening its presence in emerging markets.

NODWIN Gaming has been growing organically and inorganically through acquisitions. In the recently announced quarter results of Q2 FY24, revenue grew 91% on a QoQ basis and 111% on a YoY basis. NODWIN has recently announced the investment and scaling up of Comic Con India and the Acquisition of Trinity Gaming.

Sharing his thoughts on this investment Akshat Rathee, Co-founder and MD, NODWIN Gaming said, “We would like to extend our sincere gratitude to Nazara Technologies for their unwavering support and trust in the NODWIN Gaming vision every step of the way. Their belief in our mission has been instrumental in driving our progress and success. As we continue on our growth and expansion journey, we remain fully committed to building a truly global company coming from India that leads with innovation, expanding our capabilities in New age media in emerging markets. Our focus is on capturing the attention and Timeshare of Mindshare of the global youth.”

NODWIN Gaming’s global expansion
Founded by Rathee and Gautam Singh Virk, NODWIN Gaming owns various IPs including prominent tournaments, festivals, and conferences in esports, gaming, music, comedy, pop culture, and live experiences that appeal to young audiences.

Recently, NODWIN has expanded its portfolio with several strategic acquisitions, including the German esports and gaming marketing agency Freaks 4U Gaming, events company Comic Con, West Asia and Turkey-focused marketing agency Publishme, Singapore-based live events firm Branded, and Turkish esports and gaming company Ninja Global.

Prior to this investment, as of Nov 2024, NODWIN was valued at $410M USD (INR 3,441Cr). In addition to Nazara, Krafton, JetSynthesys and Sony Group are existing shareholders in NODWIN Gaming.

November 29, 2024: NODWIN Gaming announced the acquisition of Trinity Gaming, a leading gaming agency and platform, in a deal valued at INR 24 Crore. This acquisition will see Trinity Gaming become a fully owned subsidiary of NODWIN Gaming, marking a significant step in expanding its reach and capabilities within the Indian gaming and content ecosystem.

The acquisition of 100% of the share capital of Trinity will be a combination of secondary sale and stock swap of NODWIN Gaming shares for a total consideration of up to INR 24 Crores. The consideration would be payable partly by way of Cash consideration upto INR 4.8 Crores and balance INR 19.2 Crores by way of a swap of equity shares of NODWIN Gaming. As part of this transaction, the founders would become shareholders of NODWIN Gaming and continue to lead the business going forward.

Founded in 2019 by Abhishek Aggarwal and Shivam Rao, Trinity Gaming has quickly established itself as a cornerstone in India’s gaming influencer ecosystem. Trinity Gaming is a Creator Service Provider (CSP) for Meta and the only Gaming MCN (Multi-channel Network) for YouTube in Gaming in India, managing over 1,000 creators from across the country, with prominent partnerships with global brands such as Samsung, Realme, iQOO, and Krafton.

Trinity’s expertise in content creation, digital marketing, and agency activations makes it a valuable addition to NODWIN Gaming’s portfolio, enhancing its ability to forge impactful partnerships with gaming creators and brands.

NODWIN Gaming will expand the portfolio of Trinity to other emerging markets such as Africa, SE Asia, Central Asia and Middle East across existing businesses and verticals of NODWIN Gaming. NODWIN Gaming will also merge its Unpaused Talent business with Trinity and have the founders of Trinity lead it.

Akshat Rathee, Co-Founder of NODWIN Gaming, commented:  “Trinity Gaming has been a long-time partner and ally in the gaming ecosystem, and we’ve shared a strong relationship with Abhishek, Shivam, and their incredible team over the years. We are thrilled to welcome Trinity Gaming into the NODWIN Gaming family. Trinity’s deep understanding of India’s gaming creator ecosystem, coupled with their expertise in brand partnerships, agency activations, content creation, and community engagement, will be pivotal in further strengthening our footprint in the region. This acquisition allows us to offer more holistic solutions to our partners, from content creation to marketing services, while continuing to build a thriving gaming ecosystem in India.”

Abhishek Aggarwal, Co-Founder of Trinity Gaming, stated, “Joining forces with NODWIN Gaming is a momentous step for us. The synergy between our teams will accelerate our vision of creating unmatched opportunities for content creators in India, expanding the gaming ecosystem while helping brands connect more deeply with this highly engaged audience. We are excited about the future and the immense growth that lies ahead.”

Shivam Rao, Co-Founder of Trinity Gaming, added, “With NODWIN Gaming’s unparalleled expertise in esports and global reach, coupled with our focus on creators and brand partnerships, we are poised to deliver innovative and compelling solutions for the gaming community in India. This acquisition marks the beginning of a new era of opportunities for creators, and brands alike.”

This acquisition aligns with NODWIN Gaming’s vision of delivering immersive and holistic youth entertainment experiences. By bringing Trinity Gaming into their fold, NODWIN Gaming adds another critical touchpoint to engage with the youth demographic more effectively. As pioneers in this space, NODWIN Gaming continues to push boundaries, creating diverse offerings that resonate with the interests and aspirations of young audiences.

The acquisition comes as NODWIN Gaming continues to grow in India and emerging markets worldwide. This deal complements NODWIN Gaming’s recent strategic moves, including the acquisition of Comic Con in India, German esports and gaming marketing agency Freaks 4U Gaming, West Asia and Turkey-focused marketing agency Publishme, Singapore-based live events firm Branded, and Turkish esports and gaming company Ninja Global.

August 2024: NODWIN Gaming has entered a multi-year strategic partnership with Insider.in, India’s leading ticketing and events platforms. This partnership marks a milestone as Insider.in will become the official ticketing partner for NODWIN Gaming’s key IPs, including DreamHack, NH7 Weekender, and Comic Con India.

NODWIN Gaming’s long-standing relationship with Insider.in across various events has laid a strong foundation for this strategic partnership. Furthermore, the ticketing platform will start playing a crucial role in facilitating long-term synergistic brand partnerships for NODWIN Gaming’s IPs.

Insider.in has managed to establish its unique presence across 300+ cities by ticketing, marketing, and curating differentiated consumer experiences. The platform has become synonymous with urban culture by hosting experiences across music, comedy, sports, and theatre among other genres of entertainment.

This synergy aligns perfectly with NODWIN Gaming’s vision of creating unparalleled entertainment experiences across markets, allowing events to tap into a broader audience base.

Among its flagship events are DreamHack India, the nation’s gaming festival, Comic Con India, the premier destination for all things pop culture, and NH7 Weekender, the longest-running multi-genre music festival in India.

The partnership with Insider.in will further bolster the prominence of these events, providing a smoother ticketing experience and increased accessibility for audiences.

Sharing his thoughts on the partnership, Akshat Rathee said, “We are delighted to team up with Insider.in as our official ticketing partner across 3 of our iconic IPs. Our past collaborations have always been exceptional and this partnership is a natural progression in our shared vision for excellence.

“NODWIN Gaming is committed to becoming the premier destination for youth entertainment with our exclusive IPs, and this partnership is a significant step toward that goal. Insider.in’s expertise and commitment to delivering exceptional experiences aligns perfectly with our mission to enhance audience experiences for Comic Con India, NH7 Weekender, and DreamHack India. Together, we look forward to creating iconic memories and delightful experiences for everyone,” he continued.

Speaking about this strategic collaboration, Varun Khare said, “We are thrilled to announce this multi-year ticketing partnership with Nodwin Gaming for their iconic IPs like NH7 Weekender, Dreamhack, and the globally renowned Comic Con editions. Our longstanding partnership has been a testament to our shared commitment to excellence in live entertainment that focuses on providing unmatched entertainment to fans across the country. With tremendous fan support for all of these IPs, we are excited to elevate consumer experiences and set new benchmarks in the industry.”

June 2024: NODWIN Gaming is happy to announce that our Singapore-based subsidiary, NODWIN Gaming International Pte Ltd, has signed definitive agreements to increase its existing 13.51% stake in Freaks 4U Gaming GmbH, a Berlin-based gaming and esports agency to 100% in tranches through a share swap valued at up to Rs 271 crore.

NODWIN Pte initially increased its existing stake in Freaks 4U Gaming to 57%, and the remaining 43%, held by founders Michael Haenisch, Matthias Remmert and Jens Enders, will be swapped at a later time at its option.

Existing investors of Freaks 4U Gaming, being co-investors of FRE and Game.Fin S.R.L will become shareholders of NODWIN Pte. This acquisition is understood to enhance NODWIN Gaming’s capabilities, bringing in the expertise, experience, and network of the Freaks 4U Gaming team. It is expected to contribute towards NODWIN’s revenues going forward.

Moreover, this move is intended to bolster NODWIN Gaming’s access to developed markets and execution and planning capabilities in PC gaming and publishing support services.

“By integrating Freaks 4U Gaming’s expertise and resources, I believe we are poised to deliver services and expand our global footprint in the gaming and esports industries. We also welcome all existing shareholders of Freaks 4U Gaming as NODWIN Gaming’s shareholders,” said Akshat Rathee.

April 2024: The Global Esports Federation (GEF) has partnered with NODWIN Gaming, a subsidiary of India’s Nazara Technologies, appointing the company as a Portfolio Management Company (PMC) to help drive the expansion of its global events portfolio.

The strategic partnership aims to enhance the reach of GEF’s significant events, especially the Global Esports Tour, across various emerging markets.

Managing key markets in South and Central Asia

NODWIN Gaming, a premier gaming and esports company based in South Asia, will manage key markets in South and Central Asia, Africa, the Middle East, and parts of Southeast Asia.

The company is entrusted with exclusive rights to develop and promote GEF-licensed esports events in over 20 countries, including India, Pakistan, Uzbekistan, Kazakhstan, Dubai, Bahrain, Jordan, Thailand, and Vietnam, as well as the entire continent of Africa.

Additionally, The company has non-exclusive rights to host events globally, which supports its plans for extensive collaboration with subsidiaries and strategic partners.

Impact on the global esports landscape

The partnership between NODWIN Gaming and the GEF is poised to significantly influence the esports and gaming scenes in emerging markets.

By leveraging NODWIN Gaming’s established presence and expertise, the GEF aims to foster sustainable growth and enhance the global esports ecosystem, which includes over 155 member federations and engages billions of participants worldwide.

Leadership comments

Mario Cilenti, Chief Operating Officer at GEF, expressed his enthusiasm for the collaboration: “We are thrilled to have NODWIN Gaming and Cinematic on board as our Portfolio Management Companies for the South Asia and North America markets, respectively. Their capabilities and extensive experience make them ideal partners to advance the Global Esports Federation’s mission and further engage with esports communities across key growth regions.”

Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming, also shared his excitement: “The world of esports is evolving towards true global celebration of esports titles across the world. The Global Esports Federation truly epitomizes the hopes and aspirations of all the developing world markets that NODWIN seeks to develop. We believe our partnership with the GEF will bring the best of esports opportunities to the youth of the emerging world.”

Expanding global reach and influence

Recently, NODWIN Gaming acquired Turkey-based Ninja Gaming and invested in Germany-based Freaks 4U Gaming to further solidify its ability to expand the GEF-licensed events across non-exclusive regions, including Europe and North Africa.

These developments are expected to significantly enhance the company’s reach and influence in the global esports markets, supporting its vision of connecting communities and inspiring youth worldwide through esports.

March 2024: NODWIN Gaming has announced a strategic partnership with JSW Sports, an Indian sports promoter and pure play sports management enterprise, to monetize and market its gaming, esports, and cultural intellectual properties (IPs). As per the company, the collaboration is set to redefine and empower the rapidly evolving esports ecosystem within the country.

The partnership further solidifies NODWIN’s strategic focus as a sports media company. With esports and sports having a very large audience and media overlaps in India, the association brings together NODWIN Gaming’s expertise in esports operations and esports content creation, complemented by JSW’s extensive experience and footprint across sports, especially their commercial vertical.

Commenting on the partnership, Akshat Rathee said, “We at NODWIN Gaming are happy to announce our partnership with JSW Sports, a momentous milestone in the esports ecosystem. NODWIN Gaming’s technical know-how and leadership in the esports and gaming domain, combined with JSW Sports’ commercial expertise, positions us to unlock unprecedented opportunities in the distribution and monetization of esports content. Our shared goal is not only to empower the esports ecosystem but also to establish new benchmarks for the future.”

Additionally, the combined strengths of the two industry leaders are also focused on launching new esports-focused intellectual properties in India, educating the market and important stakeholders along creating the right partnership platforms for brands and advertisers.

NODWIN gaming’s esports IPs are celebrated for their unique appeal, offering a diverse and dynamic range of content to suit the entertainment needs of the community. Furthermore, the collaboration also aims to showcase rich and engaging storytelling within the esports domain, catering to the ever-evolving interests of the gaming community.

“India has one of the largest esports viewing audiences in the world, estimated at roughly 150 millions viewers. That number swells up to 290 million when you combine it with both, esports playing titles and fans. Talking more numbers, In 2024, the revenue in the esports market is forecasted to reach US$124.8m, and that number will only grow exponentially in the years to come. In JSW Sports and NODWIN, we see two market-leaders with the kind of synergies to capitalize on these trends, and change the game when it comes to distributing and monetizing esports content,” Divyanshu Singh, COO, of JSW Sports, added.

January 2024: Nazara Technologies-owned gaming company NODWIN gaming announced that the company has acquired Comic Con India, which hosts pop cultural festivals in India.

NODWIN gaming will acquire 100% of the shares of Comic Con India at a valuation of ₹55 crore through a combination of cash and share swap from the founders of Comic Con India – Jatin Varma and Karan Kalra.

Comic Con India was founded in 2011. The company organizes various festivals across India, in segments like comics, cosplay movies, TV shows, merch, gaming, and much more. “For more than a decade, we have worked tirelessly to build a unique space in India for promoting and celebrating popular culture,” said Varma.

The festivals are held in cities like New Delhi, Mumbai, Bengaluru, Hyderabad and Chennai.

The founders will continue to operate the business under NODWIN. The managing team at Comic Con India will also become shareholders in the gaming company by swapping 275 million of their Comicon India shares with NODWIN shares.

NODWIN said that the acquisition will help the company in expanding its presence in the global entertainment landscape. “Integration of Comic Con India will amplify and diversify the offering of Nodin to all opportunities that target the youth in India. With the continued intersection of Gaming/ Pop Culture/ esports into one interactive entertainment sector, Nodwin will add a robust IP that is scalable both in India and Internationally,” said Akshat Rathee.

February 2024: Esports firm NODWIN Gaming on Wednesday said it was acquiring Istanbul-based esports and gaming firm Ninja Global FZCO.

NODWIN did not disclose the consideration for the 100% acquisition of the latter. Ninja Global conducts tournaments, broadcasts, and otherE sports-related activities across Turkey and the Middle East and North Africa (MENA) region.

The acquisition will help NODWIN “enhance the company’s existing capabilities to offer solutions to publishers and brands in the Middle East and the Turkey region,” the firm said in a statement.

On October 6, NODWIN fully acquired game marketing agency Publishme, which focuses on West Asia and Turkey, for $2 million.

The latest acquisition “also readies NODWIN Gaming to expand to Central Asia, where the mobile games market is experiencing rapid growth,” the firm added in a statement.

NODWIN is a subsidiary of listed gaming and media firm Nazara Technologies, where it is the largest revenue driver of the parent firm. For the quarter ended December, NODWIN brought in Rs 134 crore in revenue. However, the division registered negative earnings before tax, depreciation, and amortization (Ebitda) of Rs 2 crore, said Nitish Mittersain, co-founder of Nazara Technologies.

At the time, Mittersain had told ET that the parent firm was “not pushing for margins for NODWIN” as the firm believes that “it is a business with a very large growth opportunity, and we would prefer an aggressive growth stance for the near future for this division.”

Commenting on the acquisition, Mr. Akshat Rathee said, “We are thrilled to warmly welcome Gokhan Kazar and Doruk Demisar, Founders of Ninja Dubai and their team into the NODWIN Gaming family, marking a significant addition to our valued network. This strategic acquisition not only unlocks a plethora of new opportunities but also opens doors to numerous fresh possibilities for us as a leading gaming and esports media company. As NODWIN Gaming actively broadens its global footprint, with a special focus on key emerging markets within the new BRICS+ global network, the integration of Ninja is a natural and essential step forward. This move positions us to empower local esports ecosystems, understand, and unlock the potential of multiple emerging markets.”

January 2024: NODWIN Gaming, the esports subsidiary of Nazara Technologies, on January 31 announced an investment of €8 million (about Rs 75 crore) in Germany-based Freaks 4U Gaming in exchange for a 13.51 percent stake, as the company looks to bolster its capabilities in global markets.

As per the deal, NODWIN Gaming’s Singapore subsidiary is investing €4.4 million (about Rs 41 crore) to buy a 7.4 percent stake. The firm is also converting its €3.6 million (Rs 33.26 crore) investment, made via a convertible note in December 2023, to a 6.1 percent stake.

The gaming company has also obtained a right to acquire majority control of Freaks 4U Gaming through a stock swap with shares of NODWIN Gaming in the future.

Founded in 2011, Freaks 4U Gaming is a global full-service agency that specializes in esports and gaming. Headquartered in Berlin, Germany, the firm offers a range of solutions including strategic brand and marketing consultancy, social media and community management, editorial services, event management and logistics, and creative services.

It also delivers broadcast productions as one of the most prominent esports content creators worldwide apart from providing other community-oriented solutions. The firm has regional offices across Europe, Asia, and North America and employs over 190 people.

In August 2021, Freaks 4U Gaming raised €15 million from Co-Investor Partners, a private equity investor focused on high-growth, small and mid-sized companies in German-speaking countries. The company’s turnover as of December 31, 2022 was at €38.25 million.

“NODWIN Gaming dominates in emerging markets (including India) while Freaks (4U Gaming) leads in developed markets…Together, Freaks (4U Gaming) and NODWIN Gaming will become even more relevant for global consumer brands and game publishers to operate seamlessly across emerging and developed markets,” Nazara Technologies said in a stock market filing.

As part of this agreement, NODWIN Gaming and Freaks 4U Gaming will start exclusively utilizing resources in each other’s key territories such as personnel, equipment, and facilities.

NODWIN Gaming will get access to the Freaks 4U Gaming network across the developed markets, the PC ecosystem, and its full-service capabilities. Meanwhile, Freaks 4U Gaming will get access to NODWIN Gaming’s emerging market network, and facility capabilities in the mobile esports and youth culture ecosystems.

“Our collaborative journey with Freaks (4U Gaming) is growing stronger, especially in the realms of PC and mobile gaming. We hold continuous admiration for the team at Freaks as we jointly explore new avenues for cooperation,” said Akshat Rathee in a statement.

“This financial contribution is a testament to our unwavering commitment to advancing together on this shared venture,” he said.

NODWIN Gaming said it will appoint ESL Faceit group’s Niels Wolter as a nominee on the advisory board of Freaks 4U Gaming. He will consult on strategy, operations, and integration, ensuring that the “synergy benefits identified by NODWIN Gaming and Freaks 4U Gaming are realised in a timely manner”

Michael Haenisch, CEO of Freaks 4U Gaming, said “Under Akshat’s leadership, NODWIN has become a force to be reckoned with in the emerging market and the global landscape of gaming and esports. I am excited to be working alongside Akshat and his team, as we further our discussions on how Freaks and NODWIN will collaborate and grow together in this strategic alliance.”

January 2023: Gaming and esports media firm NODWIN Gaming’s Singapore unit has acquired a 100 percent stake in in-game marketing agency Publishme for $2 million from parent firm Nazara Technologies and Publishme co-founder Ozgur Ozalp, as the company looks to boost its international presence.

As per a stock market filing, NODWIN Gaming’s Singapore subsidiary NODWIN Gaming International Pte Ltd is purchasing an 82.81 percent stake from Nazara’s Dubai unit for $2 million in cash and the remaining 17.19 percent stake from Ozgur Ozalp for $1.

Following this transaction, Publishme will rename itself as NODWIN Gaming in the Middle East but retain the Publishme name in Turkey, its original market. Ozgur Ozalp will take over as the CEO of NODWIN Gaming Dubai.

The deal is expected to enhance NODWIN Gaming’s existing solutions capabilities for brands and publishers as the company continues its global expansion, particularly in the BRICS global network whose members include Brazil, Russia, India, China, South Africa, The United Arab Emirates, Saudi Arabia, Iran, Ethiopia, Egypt and Argentina.

This includes a 51 percent stake purchase in Singapore-based live events firm Branded in an all-cash deal of up to $1.3 million last month; buying the gaming and adjacent IP businesses of OML Entertainment for Rs 73 crore in September 2021, including the popular NH7 Weekender music festival; and picking up a 10.26 percent stake in digital media firm Rusk Media for Rs 10 crore in December 2021.

NODWIN Gaming also bought a 35 percent stake in gaming accessories maker Brandscale Innovations, which makes high-quality and affordable gaming audio gear under the brand name Wings in April 2022 and purchased comics, pop culture, and superheroes merchandising retailer Planet Superheroes for Rs 4.9 crore in January 2022.

It owns various IPs including prominent tournaments, festivals, and conferences in esports, gaming, music, comedy, and live experiences that could appeal to gaming enthusiasts. It operates across multiple offices in South Asia, Singapore, the Middle East, and Turkey.

In May 2023, NODWIN Gaming raised $28 million from new investors Sony Group Corporation and Innopark and existing investors such as Nazara, Krafton, and JetSynthesys. The round valued the firm at $349 million, a significant jump from its earlier valuation of $135 million when it last raised funds in March 2021.’

“This strategic acquisition not only brings in a host of new opportunities but also paves the way for a multitude of fresh possibilities for us as a leading gaming and esports media company,” said Akshat Rathee.

Nazara chief executive Nitish Mittersain also said they see significant synergies between NODWIN Gaming and Publishme. This transaction will give NODWIN a stronger foothold into the Middle East esports market.

Publishme is a gaming marketing agency that works with game publishers in Turkey and the United Arab Emirates. It helps companies with game launch plans, social media management, sponsorship, and activations. Nazara Technologies had acquired a majority stake in Publishme for Rs 20 crore in June 2021.

April 2023: The Singapore subsidiary of NODWIN Gaming, the esports and gaming arm of Nazara Technologies Limited, has acquired a 51pc stake in the Singapore-based full-service live media company Branded.

With this acquisition, NODWIN Gaming will not only acquire all of Branded’s existing event IPs including ‘All That Matters’, ‘It’s a Girl Thing’ and ‘CreatorWorld’‘, etc, but it will also onboard a capable international team led by an industry veteran in Jasper Donat that will also focus on growing international sponsorship revenue for all of NODWIN Gaming’s IPs both in India and globally.

“We are excited to bring Branded into our fold at NODWIN Gaming adding its multiple facets to expand and grow our ecosystem. We share very similar synergies be it our common love for gaming, sports, music, esports or entertainment, so this was a near-perfect match. IPs like ‘Gaming Matters’, ‘Sports Matters’ and ‘It’s A Girl thing’ will add a new dimension to what we already offer. We will also look at the talented branded team taking our existing IPs such as Playground, The Premiership, NH7 and others international,” said Akshat Rathee.

Branded is a leading Singapore-based live media company that has built award-winning owned-and-operated platforms including All That Matters, Asia’s premiere conference and connections hub featuring Music Matters, Sports Matters, Gaming Matters, Marketing Matters, Arts Matters, Live Matters, Digital Matters and most recently Learning Matters.

Branded also produces It’s A Girl Thing, an empowerment platform and touring festival for young women, and Creator World, one of Asia’s newest event platforms for young influencers

“Over the past few years Branded has transformed from a live event IP creator and producer to a live media company and we are really excited to become a part of the NODWIN Gaming family with their vision and commitment to the business of growing media and entertainment and the communities around them. We are looking forward to expanding our existing events and IP and co-creating new, exciting properties around the APAC region and beyond,” Jasper Donat, Co-Founder and CEO, Branded.

April 2022: NODWIN Gaming, a subsidiary of Nazara Technologies Limited, has entered into a strategic investment in Wings Lifestyle, a gaming accessories brand that designs and deals in high-quality and affordable gaming audio gear.

Through this association, NODWIN aims to scale up and strengthen its retail presence and accelerate its direct-to-consumer approach for the gaming and Esports audiences in India.

As part of this investment, NODWIN Gaming will roll out a custom series of gaming headphones themed around popular Indian gaming and Esports talents and influencers under its umbrella and popular Esports organizations in the country.

Wings Lifestyle was founded in 2018 by Nishit Sharma and Vijay Vekateswaran joined him as a co-founder in 2021 and has since become one of the leading brands in earbuds with a focus on the mobile gaming segment. The gaming accessories include top-quality gaming earbuds and gaming neckbands with product expansion planned into headphones, keyboards, soundbars, speakers, and mice.

As part of its 360-marketing approach to cover all avenues of the gaming ecosystem, Wings Lifestyle collaborates with gaming content creators, esports athletes, and tournament organisers. The digitally-focused brand retails through Amazon, Flipkart, Myntra, as well as its website.

“We built the company completely bootstrapped for the last three years and have successfully brought it to where it is today. We now feel it is the right time to get external funding and grow Wings to become a global gaming brand. NODWIN Gaming and Wings share a common vision of supporting and growing the gaming community and we couldn’t have asked for a better partner in this journey,” Nishit Sharma and Vijay Venkateswaran, co-founders, of Wings Lifestyle, said.

“Strategic investments like these will enable the company to achieve its vision of creating a successful multi-dimensional gaming and Esports strategy,” Akshat Rathee said.

 “We believe that Wings Lifestyle and NODWIN Gaming share multiple synergies; be it our influencers, our tournament IPs sponsorship, or our gamer community businesses. This investment will hopefully fill in the gap created by the huge demand for customised earbuds and headphones among the gaming and Esports community,” he added.

January 2022: NODWIN Gaming has acquired direct-to-consumer retailer Planet Superheroes to expand its merchandise play.

“The board of directors of  NODWIN Gaming has approved the acquisition of 27,987 equity shares of Rs 10 each of Superhero Brands Pvt. Ltd. from existing shareholders, in one or more tranches, aggregating to 100% equity stake for a consideration of Rs 4.90 crore,” the regulatory filing stated. “With this, Superhero Brand shall become the wholly owned subsidiary of Nodwin and subsidiary of Nazara.”

The deal will allow NODWIN Gaming to offer its users global merchandise from the likes of Marvel and Disney to Hamleys and Toys R Us, according to a statement. The partnership will also expand Planet Superheroes’ current offerings to include gaming merchandise from Krafton, Gameloft, Riot Games, etc.

Planet Superheroes has also built a proprietary social commerce engine that it will integrate with Nodwin’s in-house assets to create a first-of-its-kind “influencer-first” merchandising engine, the statement read.

Founded in 2014, Mumbai-based Planet Superheroes is an omnichannel brand that retails licensed character merchandise. The variety ranges from action figures, collectibles, toys for kids, fashion and home accessories, stationery, and apparel. The company claims to have serviced more than 2 lakh consumers and shipped over 5 lakh orders since incorporation.

The company had a revenue of Rs 4.99 crore in the fiscal ended March 31, 2021, down from Rs 8.17 crore in FY20 and Rs 7.43 crore in FY19.

“There is huge untapped monetisation potential for gaming companies via merchandising and we share a common vision in realising this potential,” Jaineel Aga, founder, and chief executive at Planet Superheroes, said. “I believe we will get two immediate wins—a larger consumer base for our existing IPs and a new supply of licenses and partnerships in the gaming industry.”

December 2021: NODWIN Gaming has acquired a strategic 10% stake in the digital content IP media network Rusk Media. To assert its dominance in the Indian esports ecosystem, the company has been on an expansion and consolidation spree since its funding in March this year.

With this investment in Rusk Media, NODWIN Gaming aims to deepen and widen its portfolio of content IPs in the gaming and esports ecosystem.

“As a leader of esports in the South Asian region, we aim to eventually have a significant presence across the entire ecosystem in this sector. Through our investment in Rusk Media, we aim to take further steps in the massification of esports and gaming by creating entertainment-first gaming IPs for the GenZ,” Akshat Rathee, managing director, NODWIN Gaming, said.

Rusk Media, the Gen-Z first digital content IP network, offers content for audiences in the 15-25 age group with a focus on equal viewership across genders. NODWIN Gaming expects to massify entertainment-first gaming and esports content in the country through this association and enable media platforms to have access to content that the Gen Z cohort is looking for, it said in a statement.

“We’re excited to have NODWIN Gaming as a part of our journey to revolutionize entertainment for the Gen-Z and millennial audience. We want to bring together the worlds of entertainment and esports and create digital-first IPs that are made for gaming fans,” Mayank Yadav, CEO, of Rusk Media, stated.

NODWIN Gaming is the material subsidiary of Nazara Technologies Limited. It acquired the gaming and adjacent IP businesses of OML Entertainment recently. It has a presence in India, as well as across emerging and developed global markets such as Africa and North America.

September 2021: NODWIN Gaming acquired the gaming and adjacent intellectual property business of media and entertainment company OML Entertainment for ₹73 crore.

As part of the transaction, Ajay Nair, managing director, of OML Entertainment, will join NODWIN’s board, it added. NODWIN owns OML’s IPs, such as Bacardi NH7 Weekender, YouTube Fan Fest, and India’s biggest hip-hop league Breezer Vivid Shuffle.

“We’re getting access to some of the IPs that OML has created specifically for the youth, where there is a big crossover of gaming, music, and comedy. We’re also getting access to all the talent which is now increasingly focusing on gaming.”

Akshat Rathee said the company is interested in OML’s IPs that help create multi-stage experiences between music, comedy, and gaming. The deal will help the “massification” of esports and gaming in India, he added.

March 2021: NODWIN Gaming has raised Rs164 crore in equity investment from South Korean gaming firm Krafton which has picked up a minority stake in the company. Krafton is best known for intellectual properties and games such as PlayerUnknown Battlegrounds (PUBG), TERA, Golf King, Castle Burn among others.

This is NODWIN’s third round of funding as it has already raised funds from Rakesh Jhunjhunwala-backed Nazara Technologies Limited and JetSynthesys Private Limited, backed by Infosys Limited co-founder Kris Gopalakrishnan.

“Esports 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 Akshat Rathee, co-founder and managing director, NODWIN Gaming.

The company intends to channelize these funds to accelerate the development of esports in South Asia, Middle East and Africa, support talent, provide better gaming infrastructure and technology and conceptualize, organize and execute a multitude of tournament IPs at the national and international level.

“Krafton is excited to partner with NODWIN Gaming to help foster the promising esports ecosystem and engage with our fans and players in India,” said Changhan Kim, CEO of Krafton. “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.”