– Newgen Gaming is the parent company behind the well-known brand, Penta Esports.
– With this $1 million investment from nCore Games, Newgen Gaming aims to broaden its reach into South Asia and the Middle East and North Africa.
– nCore Games has also made investments in Studio nCore, IceSpice, and Dot9 Games.
February 13, 2023, India: nCore Games has made a $1 million strategic investment in Newgen Gaming, a gaming company operating in the esports industry through its brand, Penta Esports. This is Newgen’s first funding round.
Founded by industry veterans Anurag Khurana, Kiran Noojibail, Akshay Paul, and Krishanu Ghosal, the company focuses on the grassroots esports ecosystem of India through its esports brand, Penta Esports. Penta specializes in multiple areas such as leagues, tournaments, and content, providing esports athletes with opportunities across titles and platforms.
Penta Esports has launched several initiatives, including the Penta Amateur League, Penta Collegiate League for colleges and universities, as well as tournament IPs like the Penta Invitational, Penta Cup, and Penta Challenge. Its latest IP, the Penta Pro Series, was an official Valorant Off Season event, attracting top teams from across regions. The brand also has multiple content IPs and plans for further launches.
The investment will be used to drive growth and expand the company’s offerings, as well as its team and operations across South Asia and the MENA region.
nCore Games is India’s premier mobile games and interactive company, with investments in Studio nCore, IceSpice, and Dot9 Games. Backed by Galaxy Interactive and Animoca Brands, nCore has been funded due to the founders’ deep and unmatched experience in mobile gaming and the region’s growth prospects.
Through this investment, nCore will gain access to a robust network of esports athletes and fans, as well as unique and powerful content IPs, such as Esports in 5, 1v1, Koffee with Kiran, and more. With the infusion of capital, Penta Esports will be able to capitalize on its strong growth and momentum.
Newgen Gaming founder and CEO, Anurag Khurana said, “We started Newgen Gaming with an objective to democratise gaming and esports in India. We will be scaling up rapidly and providing more opportunities to the players and experiences to the viewers across the region. We’re excited to have raised this round from nCore Games. Vishal and I always had a collective vision that has been aligned to bring growth to the gaming industry. This collaboration will be our first big step together.”
Kaval Bombra Co-founder, President and CEO of nCore Global said, “This strategic investment will mark our foray into esports and we’re thrilled to have Newgen Gaming, an established leader in that segment, as our partner. We believe the team’s collective experience and vision has it poised for enormous growth and provides the right synergy for nCore as it works to establish a comprehensive gaming ecosystem.”
Said nCore Games co-founder Vishal Gondal, “As we set out to build a full-stack gaming ecosystem, we believe Newgen Gaming will be an integral part. Esports event management and fan engagement are set to become key growth drivers for the industry, and we look forward to tapping into Newgen Gaming’s expertise in this area as we build out India’s #1 gaming platform.”
