NODWIN Gaming, a leading esports and youth entertainment company, has appointed Manish Agarwal to its Board as a non-executive director. The appointment comes as the company accelerates preparations for a potential initial public offering, strengthening its governance and institutional readiness ahead of a possible listing.
Agarwal brings experience in scaling gaming businesses and navigating public markets, having played a key role in taking India’s only listed gaming company public. His association with NODWIN Gaming dates back to its early stages, when he led Nazara Technology’s investment into the company, giving him long-term visibility into its evolution, category positioning, and strategic direction.
Alongside his board appointment, Agarwal is co-founder of KGeN (Kratos Gamer Network), a verified human distribution network that organises micro-communities across the Global South to support engagement and commerce. The company is backed by investors including Accel and Prosus, and its most recent private round valued it at approximately $500 million. He is also the founder of Humyn Labs, which works with frontier technology companies to convert signals from real-world communities into structured human intelligence systems for AI applications.
In his new role, Agarwal will work closely with NODWIN Gaming’s board and leadership team to strengthen governance frameworks, strategic oversight and long-term value creation. His mandate will focus on supporting the company’s scaling efforts across markets while aligning institutional structures with public market expectations as it advances towards a potential listing.
Agarwal said, “Having seen NODWIN’s journey from its early stages to becoming a leading force in youth culture and gaming, it’s been exciting to watch its evolution. As the company now prepares for its next phase, including its path towards public markets, I look forward to contributing to building a globally relevant and institutionally strong platform.”
Akshat Rathee, managing director and co-founder, NODWIN Gaming, said, “Manish has been a long-time partner in NODWIN’s journey, from leading Nazara Technologies’ investment into the company to now joining our Board at a crucial inflection point. He is the leader who took Nazara public and created immense shareholder value, and brings that same mindset as we prepare for our own public market journey. Manish brings a rare combination of entrepreneurial vision and public market experience that is incredibly valuable at this stage of our journey. We are confident his strategic guidance will play an important role as we advance our pre-IPO round and continue creating long-term value for our stakeholders. We are delighted to welcome him to the Board at this important stage.”
NODWIN Gaming has been expanding its presence across gaming, creator ecosystems and youth culture, building a platform spanning content, commerce and experiences. The company is also investing in governance systems and organisational capabilities as it positions itself for the next phase of institutional growth.
Recent strategic moves include the return of Sidharth Kedia to lead strategy, capital planning and M&A, as well as the addition of Arnd Benninghoff to the board and the initiation of a $100 million pre-IPO fundraise. These developments reflect a coordinated effort to strengthen leadership depth and prepare for public markets.
The company reported INR 524 cr in FY25, driven by consistent 50%+ CAGR since 2018. In the first three quarters of FY26, revenue reached INR 530.3 cr while maintaining EBITDA-positive operations, indicating continued momentum as it moves through the current financial year.
