nCore Games has announced an investment of $1 million in Newgen Gaming which operates in the esports domain through its brand Penta\ Esports. This is the first funding round for the Gurugram-based startup.
The proceeds will be deployed to accelerate the growth of the company’s offerings and to expand its team and operations across South Asia and MENA regions, Newgen Gaming said in a press release.
Founded in 2021 by Anurag Khurana, Kiran Noojibail, Akshay Paul and Krishanu Ghosal, Newgen Gaming’s esports brand Penta Esports specialises in multiple verticals including leagues, tournaments and content. With a focus on the grassroots esports ecosystem of India, the brand enables esports athletes with opportunities across titles and platforms.
Through this investment, nCore Games will gain access to a strong network of esports athletes and fans, as well as unique and strong content intellectual properties, like Esports in 5, 1v1, Koffee with Karan and more. Penta Esports will be able to capitalise on its strong growth and momentum with the infusion of capital.
According to Penta Esports, it has launched leagues including Penta Amateur League and the Penta Collegiate League for colleges and universities, alongside other tournament IPs like the Penta Invitational, Penta Cup, and Penta Challenge.
nCore Games is a mobile games and interactive company and also has investment in Studio nCore, IceSpice and Dot9 Games. The company’s investors include Galaxy Interactive and Animoca Brands.