Indian organisation Global Esports has closed its seed funding round, raising an undisclosed amount which is said to be a multi-million dollar deal.
The round was funded by Venture Catalysts, a seed and angel investing firm based in India that describes itself as a “top incubator for startups.”
Dr Rushindra Sinha, Co-founder of Global Esports commented on the funding in a release: “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.”
The investment will help the organisation to “explore its potential and opportunities” with the guidance of Venture Catalysts.
Anuj Golecha, Co-founder of Venture Catalysts added: “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 Global Esports has been a leader in this category and has managed to make a huge mark in a very short time. Globally, 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.”
Global Esports fields teams in Overwatch, Fortnite, Counter-Strike: Global Offensive, Dota 2, Rainbow Six Siege, PlayerUnknown’s Battlegrounds, and Apex Legends.
Esports Insider says: There are a lot of opportunities for organisations in India, especially considering the audience that already exists there. Raising significant capital after already establishing a decent footprint in the market could be what’s needed for Global Esports to step up as a leader in the scene. Let’s just hope a sports car wasn’t the organisation’s first purchase with its new-found capital!