Gaming peripheral company Razer recently led a $4.4m (£3.3m) round of investments contributing $3.3m (£2.5m) itself for Australian-based company Esports Mogul making it a significant shareholder in the company. Other investors in the round of funding include local Australian institutions and Singapore-based technology firm, Cloud Alliance.
Esports Mogul manages the Mogul Arena platform which organizes tournaments for games like Dota 2, CS:GO, Vainglory and League of Legends. The platform is currently available in English, Thai and Vietnamese and plans to soon release in Spanish, Portuguese, Chinese and Indonesian.
Gernot Abl, Esports Mogul Managing Director said: “We are absolutely thrilled with the level and quality of investor interest in this placement. This is a clear recognition of our business model, go-to-market strategy and the standard of our online esports tournament platform – Mogul Arena.”
The company stated it will use the money to further develop Mogul Arena, which Razer already holds a sponsorship in along with Twitch and Nvidia. The company is looking to develop further into mobile gaming as the genre grow popular. Razer will also push it’s Razer zSilver digital currency on the Mogul Arena platform, Esports Elite service.
Min-Liang Tan, CEO and Co-Founder of Razer commented: “Esports Mogul and Razer share a common vision to bring phenomenal gaming experiences to gamers everywhere. We look forward to even greater achievements by the Esports Mogul team and we will work together to increase their growth and trajectory.”
Last year, Esports Mogul committed $4.9m (£3.9m) in equity investment and marketing contributions into Challengeme Esports.
Esports Insider says: It’s no surprise that Razer is looking to get deeper and deeper into esports investments and this is a smart one. Esports Mogul’s, Mogul Arena is a clean tournament platform for users looking for casual, or hardcore competition. As mobile gaming gets more and more popular platforms like Mogul Arena will need to adapt and this investment will surely help.