KUALA LUMPUR (May 19): Singapore-headquartered Esports Players League (ESPL) raised an unspecified amount of fresh funding for its pre-series A financing round through strategic investors that is in the "seven-digit of US dollars".
According to ESPL’s statement, ESPL was seeded by Silicon Valley early-stage VC 500 Startups, and the new financing round was led by RightBridge Ventures AB, a Sweden-based e-sports investment firm.
Other strategic corporate investors in the round include Genting Ventures, Warner Music Asia, Naza Group director Datuk Wira SM Faisal, through his private investment arm Puncak Geliga Capital Sdn Bhd, and CRAES, a Singapore-based investment company of professional investors.
It noted that Genting Ventures is the corporate venture arm of the Genting Group, and notable investments by Genting Ventures in e-sports include EVOS Esports.
Further participants in the investment round included founders: ASX-listed gaming company iCandy Interactive Ltd, Malaysia-listed tech company Sedania Innovator Bhd, Michael Broda, and Lau Kin Wai.
“We are thrilled to welcome our new valued investors. We look forward to working with all of them,” said Lau, co-founder of ESPL.
“We are now even better equipped to continue our mission to grow ESPL as a leading global e-sports tournament network,” said Sedania founder and managing director Datuk Azrin Mohd Noor.
ESPL co-founder Michael Broda commented, “Additional funding rounds will help ESPL to grow. We are looking at various improvements to our platform to move to the next level.”
“ESPL is one of the fastest growing amateur e-sports tournaments and media platforms that we have seen. The combination of geographical focus, competitive mobile gaming and non-endemic brand penetration were decisive to our investment decision,” commented RightBridge CEO Carlos Barrios.
“We like the grassroot e-sports community that ESPL is serving and we think the business model is very scalable,” commented Josie Lai of Genting Ventures.
Launched in late-2019, ESPL is an international e-sports tournament and media platform with a focus on the grassroots gamer community.