Esports apparel manufacturer Raven has raised $1.4 million (£1.13 million) in its seed funding round.
A private equity fund in the United States invested in the company through the round.
Raven will use the capital to increase its market share on a global basis and “drive product innovation” to improve the state of apparel in the esports industry. It will also expand its team, hiring across Europe and North America.
A release states that the funding will enable Raven to develop its unique service offering across “product design, manufacturing, marketing and logistics” for both professional and grassroots esports.
Raven currently works with Dark Zero Esports, Excel Esports, Rogue, Tribe Gaming, Nova Esports, National Student Esports, and Mock-it Esports. It designs, produces, and sells jackets, jerseys, joggers, and other garments for the aforementioned organisations.
Sam Wells, CEO of Raven, spoke on the investment in a release: “We have an ambitious strategy for the future of Raven and the capital raised provides us with the platform to execute our vision through the continued development of performance-based products that cater to the needs of professional gamers, communities and grassroots-based programmes.
“We are tremendously proud to have grown within the esports ecosystem and with a board that has numerous years of experience in the industry we are in a great position to fulfil our goals.”
Esports Insider says: There isn’t much variation when it comes to apparel in esports at the moment, with many companies offering similar services. This funding could well allow Raven to experiment with apparel and potential innovate on what’s the current norm in the industry.