EsportsXO, a Bengaluru-based Indian esports organisation, has raised an undisclosed amount in its ongoing funding round, which saw the participation of SOSV's Orbit Startups, SucSEED Indovation Fund, Mumbai Angels, WeFounderCircle, and Imperial Holdings.
Founded in 2020 by Vikas Goel, Utsav Umang, and Rohit Raj, EsportsXO aims to become a leading game and player discovery platform, addressing the needs of gamers, game developers, and tournament organisers.
What is the purpose of fundraising?
The company said it has witnessed significant growth in the last 18 months, focusing on platform development, cost optimisation, and improving unit metrics. This has led to positive EBITDA in the previous quarter and ongoing growth.
Vikas Goel, CEO and Co-founder of EsportsXO, said the game advertising is a $130 billion market. He said the company is not just targeting gamers but also addressing the needs of game developers and tournament organisers, enabling them to leverage technology for scalable reach through data-driven campaigns.
"The infusion of capital will further empower us to tackle the next significant challenge – expanding our company in size and increasing our user base," he added.
The involvement of international brands in Indian esports market
Oscar Ramos, Managing General Partner at Orbit Startups and Venture Partner at SOSV, said, “The esports market in India is taking off, driven not only by a growing fan base and the professionalisation of competitive gamers but also by the involvement of both local and international brands. These brands recognise the importance of the industry for the consumers of the future. The EsportsXO platform is built from the bottom up, enhancing the experience and maximising value for every party in the ecosystem.”
Hosted over 25,000 tournaments
The company claims to have hosted over 25,000 tournaments, engaged 1000+ organisers, and generated significant revenue while distributing considerable sponsored rewards.
It aims to build the world's largest gaming community, catering to PC, mobile, and console gamers while collaborating with game developers and brands for enhanced visibility and targeted advertising.
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