Esports has been rapidly growing in India over the past few years, with more and more players and viewers entering the scene. As a result, a number of Esports organizations have emerged, offering competitive opportunities and building the Indian esports ecosystem. One of these organizations is Penta Esports, a Mumbai-based esports platform that has recently received a strategic investment from Newgen Gaming.
The investment was announced on February 13, 2023, and is expected to help Penta Esports expand its operations and accelerate its growth in the Indian market. While the exact amount of the investment has not been disclosed, it is said to be significant and will enable Penta Esports to build its team and increase its presence in the Indian esports community.
Penta Esports was founded in 2019 and has since become a leading esports platform in India, offering competitive opportunities for a range of games including CS:GO, Valorant, and Dota 2. The platform has organized a number of tournaments and events, and has also partnered with several major brands in the gaming industry.
Newgen Gaming is a game development and publishing company based in India. The company has developed a number of popular games including World Cricket Championship, which has over 150 million downloads. Newgen Gaming's investment in Penta Esports is part of its strategy to expand its presence in the esports industry and capitalize on the growing demand for esports in India.
The investment is expected to help Penta Esports in a number of ways. First, it will enable the platform to expand its team and bring in more talent, which will help it to develop better content and organize more high-quality events. The investment will also allow Penta Esports to invest in better infrastructure and equipment, which will help to improve the quality of its tournaments and make the platform more attractive to players and viewers.
In addition to these benefits, the investment from Newgen Gaming will also help to raise the profile of Penta Esports and increase its visibility in the Indian esports community. With the backing of a well-respected gaming company, Penta Esports will be better positioned to compete with other esports platforms in India and attract more players and viewers to its events.
The Indian esports market is currently experiencing a period of rapid growth, with more and more players and viewers entering the scene. According to a report by KPMG, the Indian esports market is expected to grow at a compound annual growth rate of 36% between 2021 and 2026, reaching a total value of INR 18 billion (approximately $240 million) by 2026.
This growth is being driven by a number of factors, including the increasing popularity of gaming among young people in India, the rise of mobile gaming, and the growing availability of high-speed internet and affordable smartphones. As the Indian esports market continues to grow, there is likely to be increasing demand for platforms like Penta Esports that offer competitive opportunities and high-quality events.
The strategic investment from Newgen Gaming is a major milestone for Penta Esports and is expected to help the platform expand its operations and accelerate its growth in the Indian market. With the backing of a well-respected gaming company, Penta Esports will be better positioned to compete with other esports platforms in India and attract more players and viewers to its events. As the Indian esports market continues to grow, platforms like Penta Esports will play an increasingly important role in building and shaping the Indian esports ecosystem.
