Nware, the cloud gaming platform made in Spain raises its fourth round of funding for a total value of €1.1 million. The startup has managed to bring together the participation of various national and international investors in a single operation that is committed to cloud gaming as the future of the video games sector. Currently, the Nware cloud gaming platform, which is in Beta phase, has thousands of active users and hundreds of thousands of users on the waiting list.
With this capital increase, Nware is bringing in powerful new investors with a strong track-record in the tech and gaming sector. Among them, the venture capital firm Draper B1, part of Draper Venture Network, and Venture Capital Archipiélago Next. Business Angels COREangels group which, for the first time, brings together several groups from the same fund (Core Angels Madrid, Core Angels Barcelona and Core Angels Pacific) to invest in a single startup is also participating. Former executives from tech giants such as Xbox, Electronic Arts, Google and Microsoft are participating in the round as part of COREangels. At the same time, Tokavi, Grupo Villar and Secal Venture Investors have invested in this round. Stands out the participation of Jorge Desormeaux and Andreas Mihalovits, renowned Business Angels from the gaming and technology sectors, respectively.
The unification of such heterogeneous profiles, although always experts in the technology sector, highlights the potential of Nware and the commitment of industry experts to cloud gaming as the most innovative and powerful model for the future of video games.
This financing round raises the bar for seed rounds in the Spanish paradigm, in which different investment groups come together for an unusual amount at this stage of the startup’s development. “We are very happy with the outcome of the round and the expertise on the video game industry that we have managed to attract to our project”, says Daniel Olmedo, Co-Founder and CEO of Nware, who adds that this further underlines the investors’ confidence in Nware and the team’s capabilities.
Nware future plans: new operating systems and international expansion
Nware’s future plans include international expansion with the aim of reaching more users and new markets, as well as making the service available on Mac computers, which would join the current possibility of playing on Windows PCs and Android mobiles. “Our goal now is to grow Nware and position the platform as the alternative to traditional gaming. Now is the time to generate awareness and reach users who are looking for greater freedom of access to video games, who don’t have access to a graphics card due to the scarcity of hardware on the market, or who are unaware of the innovation that cloud gaming offers. In addition, we intend to continue deploying cloud servers in strategic locations in order to offer a better service to our gamers and new potential users of Nware anywhere in the world,” adds Begoña Fernandez-Cid, Co-Founder and CMO of Nware.
This is the fourth capital increase received by the Madrid-based startup Cloudware SL and its second capital increase with Venture Capital funds, after the financing obtained in May 2020 for €450,000, with The Valley Venture Capital as lead investor. An operation with which the platform was able to boost the launch of its Beta version.
Nware is currently the only cloud gaming platform on the market that allows users to play more than 20,000 video games from the Steam, Epic Games or Ubisoft catalogues on a single cloud platform from a PC or Android mobile phone, without the need for consoles or powerful equipment, thus combating an obstacle that many gamers encounter due to the high prices that consoles and games tend to have or the technological demands they require.
“We want to be a link between different content creators and users. We are currently working to establish relationships within the industry and we are very open to establishing strategic ties with content creators,” adds Olmedo.
With the dual objective of offering users more speed and quality of service regardless of their location, Nware has servers in different strategic locations in Europe and America: London (UK), Sao Paulo (Brazil), Santiago de Queretaro (Mexico), Frankfurt (Germany) and Texas (USA). In addition, the Nware team is working on a new unique and differentiating streaming technology that will allow gamers to have a smooth gaming experience despite a poor internet connection.