India’s leading online gaming company Global Esports has announced a multi-million dollar deal by raising their seed round of funding from Venture Catalysts. With the Esports industry growing at a rate of 38% YOY, this funding will enable GE to capitalize on the growing popularity of online gaming in Asia, which has more than 50% of the world’s players and audience in Esports. There has been more than $6b in funding since 2017 into the Esports industry.
A leading gaming company in India, GE is being termed as a game changer in Esports industry in the Asian market, and this deal will help the company explore its potential and opportunities with guidance from venture capitalists and industry experts. The undisclosed seed funding is another achievement for Global Esports, which has been growing at a fast pace since its formation in November 2018.
Sharing more about the funding deal with VCats, 29-year-old Dr Rushindra Sinha, Co-Founder of Global Esports, said, “We’re extremely proud to announce that we’re the first Indian Esports company to have raised a funding in this space. Our endeavor has always been to showcase the depth and expertise of Esports present in the Indian audiences. This investment from Vcats is a move in this direction and is bringing us closer to our goal of putting India on the Esports global map. India is in its very nascent phase and we are perfectly poised to shape and mould the future of Esports in India for generations to come and we wish to really develop the space at a grassroots level in India while slowly establishing dominance in both Asia and the rest of the world.”
This announcement showcases the potential of the company, as it becomes one of the first Indian Esports organization to secure funding in this space.
Talking about the funding deal and future of Esports in India, CA Anuj Golecha, Co-Founder of Venture Catalysts said “The esports category is very new in India but esports has seen immense funding pumped in and it’s just the right time to see the same trend in India. We at Vcats see immense potential in the Esports space and are hoping this move opens up the entire ecosystem of Esports and gaming content in India.”
GE currently boasts of recently having broken the Fortnite World Record at the World Cup Qualifiers, as well as running the Overwatch India World Cup Team which will be representing our country at the Overwatch WorldCup 2019 later this year in Los Angeles at Blizzcon (One of the largest gaming conventions on earth with about 60,000 – 80,000 attendees in person and millions watching online).
Recently their CS:GO team was crowned one of the top teams in the region and will be representing the Asia Pacific region at the CI Lan Tournament in Malaysia in October.