Icelandic organisation Dusty closes $1.1m financing round

Icelandic esports organisation Dusty has announced the closure of a $1.1m (~£870,000) financing round.

According to the organisation’s Twitter post, the investment will be used to bolster Dusty’s competitive rosters, develop its social media platform and strengthen player development in Iceland.

Image credit: Dusty

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The organisation has claimed that this was the first financing round in Icelandic esports. Details regarding the investors’ names have not been disclosed. Esports Insider has reached out to the organisation for additional details.

Asbjorn Daniel, CEO of Dusty, commented: “We are thrilled to see it in action that other people believe in what we’re doing and we can’t wait to get to work in close collaboration with the participating parties.”

Founded in 2019, Dusty has competitive rosters in League of Legends, CS:GO and FIFA. Its League of Legends team currently competes in the NLC, Riot Games’ Nordic, UK and Ireland European regional league. 

Last year, Dusty teamed up with North American esports organisation Cloud9 to become its exclusive partner for the 2021 League of Legends World Championship. Dusty provided Cloud9 with facilities, logistics and promotional activity for the event, which was held in Reykjavik, Iceland.

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Some of Dusty’s current commercial partners include bookmaker Coolbet, pizza chain Domino’s and sports apparel company Macron, among others.

Esports Insider says: Whilst financing rounds are fairly common in the esports world, it’s still good to see regional organisations receive funding. According to the organisation, some of the funding will go towards Icelandic player development, which should only benefit the regional scene. Finally, it’ll be interesting to see if the funding results in Dusty expanding into other titles. 

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