Penta Esports parent company Newgen Gaming raises $1m

13 February 2023


(ESI Illustration) Image credit: Penta Esports / Newgen Gaming / nCore Games

Newgen Gaming, the company behind Indian esports platform Penta Esports, has announced a strategic investment from nCore Games.

The $1m (£830,000) investment will be used to further accelerate Penta’s growth in South Asia and MENA regions whilst also improving nCore’s presence in esports. This is Newgen Gaming’s first funding round.

Penta Esports is a well-known esports tournament platform in India. The company focuses on the country’s growing grassroots scene and helps players find teams and matches to play. The company operates the Penta Amateur League and the Penta Collegiate League, and is also the operator of the Penta Pro Series, an official VALORANT off-season event in the region.

Newgen Gaming’s investor, nCore Games is a game developer and publisher based in Bangalore, India. The company specialises in mobile games, and its investors include Animoca Brands and Galaxy Interactive. The company has also invested in Studio nCore, IceSpice and Dot9 Games in the past.

Penta Esports recently partnered with streaming platform Loco to further improve its grassroots esports efforts. Moreover, the Indian government has recently officially recognised esports, with the news welcomed by the country’s esports industry stakeholders.

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Newgen Gaming founder and CEO, Anurag Khurana, commented on the news “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.”

Ivan Šimić
Ivan comes from Croatia, loves weird simulator games, and is terrible at playing anything else. Spent 5 years writing about tech and esports in Croatia, and is now doing it here.