Newgen Gaming, which runs esports brand Penta Esports, on Monday said it has secured $1 million (Rs 8.2 crore) from nCore Games in its maiden capital raise.
The fresh funds will be deployed for hiring, product growth and expanding its geographical footprints.
Newgen Gaming was founded by Anurag Khurana, Kiran Noojibail, Akshay Paul and Krishanu Ghosal in in 2021. Its brand Penta Esports operates esports leagues, tournaments and content.
Through this investment, nCore Games aims to access to a network of esports athletes and fans, as well as content IPs, like Esports in 5, 1v1, Koffee with Kiran and more.
“We will be scaling up and providing opportunities to the players and experiences to the viewers across the region,” said Khurana.
Through this investment, nCore Games aims to access to a network of esports athletes and fans, as well as content IPs, like esports in 5, 1v1 and others.
“This investment will mark our foray into esports,” said Kaval Bombra co-founder, president and chief executive officer, nCore Global.
nCore Games, operated by nCORE Gaming and IT solutions Pvt Ltd was co-founded in 2019 by Vishal Gondal and Dayanidhi M G. Gondal. It creates and publishes mobile games targeted focused for the Indian subcontinent. Currently, the company has released three mobile games: FAU:G, ICC Cricket Mobile, and Apna Games.
Last year, the Bengaluru-based gaming startup raised $10 million as a part of its Series A funding, co-led by Galaxy Interactive and Animoca Brands.
India’s gaming sector has been gaining investors’ traction for quite some time now. Last month, Bengaluru-based game maker Studio Sirah raised $2.6 million from Kalaari Capital and Lumikai in a pre-Series A capital raise. In another instance, gaming firm Giga Fun Studios raised $2.4 million seed investment from Lumkai Ventures.