Indian Esports Start-up Newgen Gaming Gets a $1 Million Funding Boost from nCore Games for Regional Expansion
nCore Games, the mobile games and interactive entertainment company, has invested $1 million in Gurgaon-based gaming startup Newgen Gaming in the latter’s first funding round. Newgen Gaming, founded in 2021 by Anurag Khurana, Kiran Noojibail, Akshay Paul, and Krishanu Ghosal, plans to use the investment to expand its team, product offerings, and operations across South Asia and the MENA region. The company operates in the esports sector, focusing on leagues, tournaments, and content creation through its brand ‘Penta Esports’. The Penta Esports brand includes event IPs such as the Penta Invitational, Penta Cup, and Penta Challenge, as well as its grassroots-focused leagues, the Penta Amateur League and the Penta Collegiate League.
Newgen Gaming CEO Anurag Khurana aims to democratize gaming and esports in India, offering players more opportunities and viewers more experiences across the region. nCore Games, the investor, has developed popular games like FAU:G, ICC Cricket Mobile, and Apna Games. It raised $10 million in a Series A round in 2022, co-led by Galaxy Interactive and Animoca Brands.
Vishal Gondal, co-founder of nCore Games, believes that Newgen Gaming will be an integral part of the company’s full-stack gaming ecosystem. As esports event management and fan engagement become key growth drivers for the industry, Newgen Gaming’s expertise in this area will be invaluable in building out India’s top gaming platform.
Investment in esports organizations is on the rise in India, with Bengaluru-based The Esports Club (TEC) raising $3 million in Pre-Series A funding earlier this month. TEC plans to use the funds to expand its operations in Southeast Asia and the Middle East and work closely with local communities to encourage the growth of esports in those regions, giving participants the opportunity to showcase their skills and pursue careers in gaming.