Nodwin acquires stake in Brandscale and Wings to accelerate its D2C approach
, through its subsidiary , has approved the acquisition of 35 percent stake in Brandscale Innovations for around Rs 10 crore. The transaction is expected to close in one month by 20 May 2022.
Nazara has also invested in Wings, a gaming accessories brand that designs and deals in high-quality and affordable gaming audio gear. Through this association, Nodwin aims to scale up and strengthen its retail presence and accelerate its direct-to-consumer approach for the gaming and esports audiences in India.
As part of this investment, the company plans to roll out a custom series of gaming headphones themed around popular Indian gaming and esports talents and influencers under Nodwin's Gaming’s umbrella and popular esports organisations in the country.
“Strategic investments like these enable us to achieve our vision of creating a successful multi-dimensional gaming and esports strategy,” said Akshat Rathee, Co-founder and Managing Director, Nodwin Gaming. “This investment will hopefully fill in the gap created by the huge demand for customised earbuds and headphones among the gaming and esports community.”
Brandscale Innovations deals in the business of trading and manufacturing gaming accessories including audio headphones and other gaming accessories across computer and mobile.
The startup sells its products mostly through ecommerce portals like Amazon, Flipkart, and other ecommerce platforms and through its own website. The company is newly incorporated and has not finished its first annual financial reporting. However, as per its MIS report, it is expected to clock an annualised revenue rate of Rs 250 million, and expected to clock Rs 700 million in sales for FY23.
The proposal investment in Brandscale is part of Nodwin’s growth strategy to strengthen its D2C revenues.
“We built the company completely bootstrapped for the last 3 years and have successfully brought it to where it is today. We now feel it is the right time to get external funding and grow Wings to become a global gaming brand. Nodwin Gaming and Wings share a common vision of supporting and growing the gaming community and we couldn't have asked for a better partner in this journey,” said Nishit Sharma and Vijay Venkateswaran, Co-founders, Wings.
Edited by Anju Narayanan