Danish tournament organiser BLAST has received £1.7m in funding from British firm Edge Investments.
Specific terms of the investment have yet to be disclosed, however according to BLAST, the capital will be used to help the organiser ‘accelerate its international expansion’ and ‘bolster its broader UK operations’.
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Apart from the funding, BLAST will be also using Edge’s expertise and network as the tournament organiser seeks to optimise its production capabilities and possibly reach deeper into the nation’s media talent pool.
Robbie Douek, CEO for BLAST, commented on the announcement: “To have Edge Investments’ backing us is a testament to the impressive work BLAST has achieved so far this year. It also highlights the upward trajectory the esports industry is on right now, despite a turbulent year for everyone. We chose Edge to access their specialist knowledge and network in content distribution, media promotion and production and we are delighted to have them on board as we enter what looks to be a pivotal year for us.”
The release follows yesterday’s announcement of BLAST partnering with the British Broadcasting Corporation (BBC). As a result of the deal, BLAST’s final three CS:GO events of the 2020 season will be shown on BBC iPlayer.
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Overall, 2020 has been a busy year for BLAST. Besides a number of commercial partnerships and several millions raised in funds, the organiser also managed to introduce multiple new tournaments and content series’, bringing over 500 hours of esports content.
Niall Santamaria, Investment Manager at Edge Investments, spoke on the decision: “We’re excited to partner with BLAST, as it looks to become a true leader in global esports. In this sector, the fans are everything – and Robbie and his team have focused on ensuring they have the best teams, top broadcast talent and production technology, to deliver a truly world class content experience for millions of fans – something clearly acknowledged by the BBC with yesterday’s announcement.
“The whole team at Edge is pleased to be supporting them as they build on their recent successes and move to the next stage of their growth.”
Edge Investments is a London based investment company that specialises in the creative industries sector, such as media and entertainment. In addition to being a backing and mentoring businesses, it also provides research and market analysis. The funding comes from the Edge Creative Enterprise Fund, which follows research into the rapid growth in viewership and brand interest in esports.
Esport Insider says: BLAST has shown an incredible improvement this year, pushing forward with new initiatives and numerous collaborations, as well as raising impressive capital to develop its infastructure.