A startup from Singapore has raised $1 million for mobile esports tournaments. The leader of the round is one of the partners of Sberbank of the Russian Federation
Esports startup Esports Players League has attracted $1 million seed investments. He specializes mostly in mobile disciplines.
Esports Players League is based in Singapore. The company wants to hold its first tournaments in Southeast Asia and Latin America in April-November of this year. The attracted investments will be used to finance the competitions, writes Gamesindustry.biz .
These tournaments are only the first stage of the startup’s global strategy. The platform is preparing tournaments in 10 countries for this year, and in the future it is going to increase their number to 16. Esports Players League plans to provide access to global tournaments to novice esports players. The startup management considers this segment of players to be “large and undervalued.”
According to Crunchbase, 500 Startups became the leader of the seed round. This is an American venture fund and business accelerator. He has invested a “significant portion” of the total $1 million in Esports Players League.
By the way, the Russian Sberbank cooperates with 500 Startups, which is also interested in esports. The bank is called one of the potential buyers of Mail.Ru Group of a controlling stake in ESforce, a loss—making esports holding. The owner planned a cashless transfer of 51% of ESforce shares to Modern Pick (according to some reports, this is an affiliated legal entity of the Mail.Ru Group), but the transaction did not take place.
Previously, ESforce was estimated by the owner at $110 million. In December, the estimate dropped to $30 million. Both amounts look gigantic against the background of relatively small investments in startups like Esports Players League or ProGuides (read more here). Probably overestimate your esports platform Mail.Ru Group is still not worth it.
Also on the topic:
- ProGuides esports platform raised $1.9 millionIn 2020, the esports market will earn $1.1 billion even without broadcasters
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