nCore Games, a mobile games and interactive company announced that it has made an investment of $1 million in Newgen Gaming, which operates in the esports domain through its brand, Penta Esports. The development marks the first funding round for the Gurugram-based start-up.
Newgen Gaming plans to use the proceeds to grow its offerings and to expand its team and operations throughout South Asia and the Middle East and North Africa regions.
Founded in 2021 by Anurag Khurana, Kiran Noojibail, Akshay Paul and Krishanu Ghosal, Penta Esports is a specialised e-sports brand that operates in several areas such as leagues, tournaments and content. The brand focuses on the grassroots e-sports ecosystem in India and provides e-sports athletes with opportunities across different titles and platforms.
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Through this investment, nCore Games will have access to a large network of e-sports athletes and fans, as well as unique and powerful intellectual properties for content, such as "Esports in 5", "1v1", "Koffee with Karan" and more. Penta Esports will be able to take advantage of its strong growth and momentum with the injection of capital.
Penta Esports has already launched several leagues, including the Pents Amateur League and the Pents Collegiate League for colleges and universities, as well as other tournament IPs like the Penta Invitational, Penta Cup and Penta Challenge. nCore Games, which also has investments in Studio nCore, IceSpice and Dot9 Games, is backed by investors including Galaxy Interactive and Animoca Brands.
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