Mumbai Angels Network, a platform for early-stage investments has participated in a $1.1 million seed round for EsportsXO, a SaaS-based tournament platform designed for gaming enthusiasts. This round also saw participation by We Founder Circle, SucSEED Indovation Fund, FAAD Network, SOSV, and other investors.
“EsportsXO’s USP lies is the SaaS tool, built to focus on their product strategy, with other aspects creating a flywheel effect for the platform. This funding is a testament to their growth and progress, and we believe that it will help the platform reach greater heights,” added Nandini Mansinghka, co-founder & CEO, Mumbai Angels Network.
EsportsXO facilitates opportunities for game publishers and brands to launch custom tournaments for users. The brand has developed a strategic plan to build an e-sports metaverse for fans and players and already has over 150,000 registered users.
Vikas Goel, founder of EsportsXO, said, “E-sports in India is at the same stage where e-Commerce was 15 years ago; there is an abundance of opportunities for everyone. The market in India and the rest of the APAC region is huge, which gives us enough room for creativity and growth. EsportsXO is committed to blending state-of-the-art technology into the online gaming world to provide users with a one-of-a-kind experience. We are thankful to our investors for joining us in our journey. The latest capital infusion will allow us to expand our team and reach.”
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