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Newgen Gaming Raises $1 Million Through nCore Games nCore Games invests in Newgen Gaming's esports division brand Penta Esports. The funds raised will be used to accelerate Newgen's existing offerings and expand its base in South Asia and MENA regions

By Paromita Gupta

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On Monday, nCore Games, a mobile games and interactive entertainment company, announced it had made an investment move of USD 1 million in the 2021 founded gaming company Newgen Gaming's esports division brand Penta Esports.

Established by Anurag Khurana, Kiran Noojibail, Akshay Paul, and Krishanu Ghosal, Newgen Gaming's Penta Esports specialises in leagues, content and tournaments along with enabling esports athletes with opportunities through its titles and platforms. Their rudimentary league launched includes Penta Amateur League, Penta Collegiate League, Penta Invitational, Penta Cup, and Penta Challenge. Penta Pro Series, their latest tournament, was an official Riot Games' Valorant off-season event.

"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," shared Kaval Bombra, Co-founder, President and CEO of nCore Global.

"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," Vishal Gondal, co-founder of nCore Games added.

The company has previously made investments in Studio nCore, IceSpice and Dot9 Games. With this, it will gain access to Newgen Gaming's various intellectual properties, such as Esports in 5, 1v1, Koffee with Kiran, etc. nCore Games has previously launched three mobile games FAU: G, ICC Cricket Mobile, and Apna Games.

Talking about the investment, Anurag Khurana, founder and CEO of Newgen Gaming, shared, "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."

The funds raised will be used to accelerate Newgen's existing offerings and expand its base in South Asia and MENA regions.

Paromita Gupta

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
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