Esports betting platform Luckbox has secured an additional $627,650 CAD (£371,217) in investment, taking the total amount currently raised to $4.5 million CAD (£2.66 million).
The company announced that it had raised $3,878,224 CAD in the first tranche of the funding round earlier this month.
Luckbox is looking to list itself publicly after seeing custom grow substantially, seemingly due to the lack of sports at the hands of COVID-19. Those who contributed towards the latest investment have not been disclosed at the time of writing.
Quentin Martin, CEO of Luckbox, spoke on the ongoing raise: “Esports has been one of the few industries to thrive during the Covid-19 outbreak and its enormous potential has been brought into sharper focus. Investors have clearly taken note and theAll Postsir support for us puts us in an even stronger position to accelerate our growth plans.”
Last month, it was announced that Luckbox had signed a letter of intent with Elephant Hill, as the company unveiled intentions to list itself publicly on the TSX Venture Exchange. Not long after, it scored a headline investment from Inter Miami footballer Luis Robles, though financial details remain undisclosed.
Mo Fazil, President and CEO of Elephant Hill, added: “As evidenced by the oversubscribed subscription receipts offering, we continue to be enthusiastic about our proposed business combination with Luckbox. The esports market continues to expand with each passing month and Luckbox is positioned to be one of the leading esports betting companies in an exciting growth industry.”
Esports Insider says: Luckbox is clearly seeing plenty of interest in what it has to offer, though we do have to question what level of use it’s expecting now that traditional sports such as football are slowly returning to action.