nCore Games has invested $1 million into Newgen Gaming in the company’s first funding round.
Newgen operates in the esports domain through its brand Penta Esports, which specialises in verticals such as leagues, tournaments, and contests. Founded in 2021 by industry veterans Anurag Khurana, Kiran Noojibail, Akshay Paul, and Krishanu Ghosal, the company focuses on India’s grassroots esports ecosystem, offering new opportunities across titles and platforms to esports athletes.
The funding will be used to accelerate Newgen’s growth, allowing it to expand its team and operations across the South Asia and MENA regions, as well as increase its offerings.
Investing in growth
“We started Newgen Gaming with an objective to democratise gaming and esports in India,” said CEO and founder Khurana. “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.”
“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,” said nCore co-founder, president and CEO Kaval Bombra. “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.”
nCore co-founder Vishal Gondal added “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.”
India is a quickly growing market, which we previously identified as one which could potentially overtake the world’s biggest mobile market, China.
