Italian esports organisation NOVO Esports has announced a new round of financing, amounting to a total of €300,000 (~£253,300).
The round will be used to further grow its competitive segment with more teams and players, open a new office in Milan and generally scale the organisation further.
NOVO is a fast-growing Italian esports organisation with teams in several games that notably compete in the local Italian and regional esports scenes. The company has rosters in VALORANT, Rocket League, EA FC, League of Legends, Street Fighter and Teamfight Tactics and is steadily increasing the number of players and staff it employs across the board.
NOVO is known for its fondness for grassroots esports and developing young talent, which is apparent from its investment in a large number of players and rosters at local and regional levels. This allows the company to expand its reach and grow its fanbase on a relatively low budget.
The company received a €110,000 (~£95,000) investment late in 2023 through a SAFE deal with two private investors. Interestingly, one of the investors from the first round, Nicolò Sereno, has now decided to further support NOVO with another cash injection.
The team shared that the financing round will be used to scale NOVO Esports further, but will also be used to open a new office in Milan, the capital of the Lombardy region.
NOVO Esports recently announced the appointment of Giorgio ‘Pow3r’ Calandrelli, a well-known Italian streamer as its President and Co-Owner. The leadership of the organisation noted that this new round represents a very important step in NOVO’s growth ambitions.
Emanuele Acerbis, CEO of NOVO, said (translated from Italian): “I would like to thank the members for their trust and sharing an ambitious vision, which is to bring Italian esports to the top and ensure that NOVO becomes the first Italian company to compete in all the main esports competitions at European and international level.”
