[Funding alert] AFK Gaming raises $200K in pre-Series A round from Inflection Point Ventures
The esports content platform will use the funding to increase its revenue growth and also expand the coverage of titles.
AFK Gaming, an esports content platform, has raised $200,000 in pre-Series A funding round from Inflection Point Ventures (IPV), an early-stage investing platform.
AFK Gaming will use this round of funding to link reach to revenue through programmatic and direct advertising while also expanding the scope of coverage to additional esport titles in Southeast Asia, according to a statement.
This esports content platform claimed that it has grown 4x since January this year. It has also signed service contracts with some of the largest tournament organisers, publishers and brands in India.
On the funding into AFK Gaming, Vinay Bansal, Founder and CEO, IPV said, "The ongoing pandemic has introduced us to many aspects of keeping ourselves engaged. Esports and e-gaming have also emerged as new aspects for many of us and companies like AFK Gaming have played a part in keeping us informed about esports in the lockdown.”
He further said, “The impact is clear as they registered 4x growth in users. We believe emergence of esports will see an accelerated acceptance in India. Just like healthcare and education, tech will also disrupt many high-ticket sports properties and we believe AFK gaming is poised well to leverage this opportunity.”
This has been the 13th investment by IPV since March this year. Started in 2018, this angel investing platform has invested more than Rs 100 crore in over 35 startups.
AFK Gaming was founded by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, and it has been clocking over 15 million monthly impressions across web, video, and social media.
Nishant Patel, Co-Founder, AFK Gaming said, “Despite some of the best esports teams, tournaments and players hailing from the Asian region, there is a distinct lack of coverage available for the global audience. AFK Gaming aims to bridge this gap by marrying our understanding of esports content creation with IPV’s expertise in building scalable, sustainable businesses.”
Edited by Kanishk Singh