Indian Startup and Tournament Organizer EsportsXO Raised $1.1 Million in Seed Investment. EsportsXo, a SaaS (software-as-a-service)-based gaming tournament discovery platform owned and operated by TechnoXo Pvt Ltd, announced on Monday that it has raised $1.1 million in a Seed investment round led by We Founder Circle, a founder-driven angel network.
EsportsXO is an esports tournament management firm that provides online event management software. We’ve hand-picked gaming content providers with millions of followers and views. We began in 2020 with the goal of bringing together the largest community of console, PC, and mobile gamers from around the world under one roof.
Indian Startup and Tournament Organizer EsportsXO Raised $1.1 Million in Seed Investment.
The Bengaluru-based company allows game publishers and advertisers to create personalized tournaments for their customers. According to the startup, it intends to create an esports metaverse for fans and players. EsportsXo’s platform now has over 150,000 members and is growing at a rate of 20% month over month. Last year, the platform—XO—claimed to have hosted more than 250 tournaments across eight games. According to the announcement, almost two million people took part in the games.
Vikas Goel, Utsav Umang, and Rohit Raj, the creators of EsportXO, had previously committed $200,000 in their personal capacity to create the company. “Esports in India is at the same level as e-commerce was 15 years ago – there are a lot of chances for everyone,” Vikas Goel, Co-Founder, EsportsXO, said of the financing. The market in India and the rest of the APAC region is enormous, providing us with plenty of room for innovation and expansion.”
EsportsXO intends to spend 40% of the new funds on tech and non-tech talent recruiting, with the remainder going into aggressive marketing and operations. The company wants to build a global gaming community that includes console, PC, and mobile gamers who can all play on the same platform. EsportsXo also wants to create a platform including e-learning, merchandising, non-fungible tokens (NFTs), content, and social networking features.