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Thursday, March 23, 2023

EsportsXO raises seed round of $1.1 mn led by We Founder Circle & others

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SAAS based tournament discovery platform EsportsXO has successfully raised 1.1 Million USD in a seed round from We Founder Circle, a startup investor along with Wami Capital.

EsportsXO’s round was funded by We Founder Circle followed by the likes of SOSV, Mumbai Angels Network, SucSEED Indovation Fund, The Gaming Lounge, and FAAD Network. The investment follows Vikas Goel, Utsav Umang, and Rohit Raj putting in 200K USD to launch the brand ahead of its first outside investment.

Bhawna Bhatnagar, Co-Founder, We Founder Circle said “SAAS industry has been witnessing tremendous growth in India, given the availability of the quality resources, professionals, and a wide user base. EsportsXO has cut a considerable slice in the market in a very short span of time. Given the unique approach the brand is sure to resonate with the audience, expand its footprint and join the top- leagues soon.”

Chetan Mehta, CEO of Wami Capital said “Esports is today one of the fastest growing segments in the overall global media space. With India’s young demographic profile, access to smartphones and affordable internet, the Indian esports space is going to explode and can become a $10bn market in the coming years. We are confident that the EsportsXO team, with their market positioning and platform approach, can add lot of value to game publishers, players, brands and various other stakeholders, not only in India but also globally”

Mr. Vikas Goel, Co-Founder, EsportsXO said “Esports in India is at the same stage where e-Commerce was 15 years ago, there are a lot of opportunities for everyone. The market in India and the rest of the APAC region is very huge which gives us enough room for creativity and growth”

Founded in 2020, EsportsXO aims to bring together gamers from PC, Mobile and Console under one umbrella as one big community. As of now, micro-services in e-learning, merchandising, NFTs, content, and social networking are also in the cards for the company.

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