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India’s Nodwin Gaming raises $22.4 million from PUBG creator Krafton

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Mobile developer Krafton has invested $22.4 million in the homegrown esports company Nodwin Gaming, the media reported on Tuesday.


According to TechCrunch, the aim is to “maintain some presence in what was once its key overseas market” after the ban on along with several other Chinese apps last year (although Krafton is a South Korea-based firm).



“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,” Akshat Rathee, co-founder and managing director of Nodwin Gaming, said in a statement.


In a bid to re-enter the India market, Corporation in November said it is making a comeback with the creation of an Indian subsidiary and a new game.


With its South Korean parent company Krafton, PUBG Corp said it plans to make investments worth $100 million in India to cultivate the local video game, esports, entertainment, and IT industries.


Changhan Kim, CEO of Krafton, said that the company is excited to partner with Gurugram-based Nodwin Gaming to help foster the promising esports ecosystem and engage with our fans and players in India.


The immensely popular PUBG Mobile app was among the 118 Chinese apps that the Indian government banned in September over national security concerns.


To get the ban lifted, PUBG Corp made the decision to no longer authorise the PUBG Mobile franchise to China-based Tencent Games in India.


The Indian subsidiary will hire over 100 employees specialising in business, esports, and game development, PUBG Corp had said.


–IANS


na/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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