TMT
By
Venture Catalysts invests in online gaming company Global eSports
Photo Credit: Thinkstock

Global eSports, an online gaming company, has raised an undisclosed amount of money in a seed funding round from incubator and accelerator Venture Catalysts.

The company will use the funds for exploring growth prospects with guidance from industry experts and venture capitalists. Global eSports said in a statement

Company co-founder Rushindra Sinha said the investment would also help the company to place India on the global stage in e-sports. “India is in its very nascent phase and we are perfectly poised to shape and mould the future of Esports in India for generations to come,” Sinha said.

Separately, Venture Catalysts co-founder Anuj Golecha said the startup has managed to make a mark in the e-sports segment in the country in a very short span of time. “We at Vcats see immense potential in the e-sports space,” he said.

Global eSports, which is operated by Gesports Pvt. Ltd, was co-founded by Rushindra Sinha and Mohit Israney in November 2018. Sinha is an alumnus of Padmashree Dr. DY Patil Vidyapeeth, while Israney comes from a filmmaking background.

The startup says it owns and manages teams across various games, including team-based shooters Overwatch and Counter-Strike, multiplayer online battle arena Defense of the Ancients 2 and battle royale game Fortnite.

Venture Catalysts

The firm was set up in December 2015 by Anuj Golecha, Apoorv Ranjan Sharma, Anil Jain and Gaurav Jain. It usually invests between $250,000 and $1 million in an early-stage startups.

Earlier this week, it invested $500,000 (around Rs 3.57 crore) in seed funding in Instoried, an artificial intelligence-driven tech content startup. Last month, it invested Rs 4 crore (around $580,260) in Pariksha, a startup which helps aspirants prepare for government exams in their regional languages.

Earlier this month, Venture Catalysts announced that it had floated a fund with a corpus of Rs 300 crore (around $43.44 million) to help early-stage Indian startups expand their business. 

The 9Unicorns Fund aims to invest in more than 100 companies every year, with a typical ticket size of Rs 60 lakh for a 5% stake in a startup. The fund may also put in an additional Rs 3-5 crore in subsequent funding rounds depending on a company’s ability to meet its growth objectives.

Leave Your Comment(s)