Egyptian esports organisation Anubis Gaming has secured $300,000 (~£234,297) in its latest round of seed funding.
A regional ecommerce group is the source of the investment, which comes after a separate seed round last month saw Anubis Gaming raise $100,000 (~£78,069). The organisation has raised a total of $450,000 (~£349,521.75) in funding since launch.
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Based in Cairo, Anubis Gaming has been competing in the MENA region and internationally since 2015. The following year it was recognized by Egypt’s Ministry of Youth and Sport as an official esports team and granted the rights to represent and compete at both regional and international levels.
Across the five year history of the organisation, it has competed in titles including Counter-Strike: Global Offensive, League of Legends, and most notably, Crossfire.
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Anubis Gaming is the current MENA region champion in Crossfire, a lesser-known first-person shooter to western audiences, but a popular and profitable free-to-play game in Asian markets. The Egyptian side competes in the global Crossfire competition, the Crossfire Elite League, and finished fourth at the conclusion of Season 2 of this month.
Youssef Mohsen, Founder of Anubis Gaming, noted that with the funding injection, the organisation plans to “add to their international coaching staff, launch their apparel line, recruit more players to form new teams that will compete on different new fronts. The funds will also be used to move into a fully equipped gaming house and training facility that could host up to 15 players as residents.”
Esports Insider says: $300,000 is a hefty amount of money to draw in, especially from a group of regional investors. It’s refreshing to see money come from the region and feed into its own esports scene, rather than investors looking elsewhere or esports organisations relying on global investment hubs to stay afloat. Strong local partnerships can help build awareness, knowledge and further investment interest from other regional investors and non-endemics.