[Funding alert] Gaming startup EWar raises pre-Series A round led by Inflection Point Ventures
Bengaluru-headquartered gaming and e-sports startupon Monday announced that it has raised a pre-Series A funding round led by Inflection Point Ventures (IPV) — India’s largest and most active angel network. JITO Angel Network, Hyderabad Angels, and Pearl Agarwal, Founder and Director, Eximius Ventures also participated in the round.
According to the company statement, the fresh funds will be utilised to drive further penetration into the Indian e-sports segment by introducing several new/innovative technologies and products which will provide a huge boost to the gaming ecosystem.
This is the second round of funding raised by EWar during the current year. The company had earlier raised an angel round of $200,000 from House of Jindals and Jeet Banerjee (Founder, Gameplan) in April this year.
Founded by Parth Chadha and Rahul Singh, EWar is currently managed by a team of 10 gaming and tech enthusiasts. The company, which has a board of advisors and investors from the sports, gaming and startup ecosystems, aims to become one of the largest e-sports platforms in Southeast Asia.
Apart from marketing and growing the franchise and the platform, EWar is also developing a layer over its existing e-sports products to make the segment more competitive and increase external viewership.
Commenting on the new development, Parth Chadha, Founder and CEO, EWar Games said, “In a year raged with the pandemic, we are fortunate enough to have received two rounds of funding at a time when most VCs are going slow on signing cheques. We at EWar are on a mission to take esports in India to much bigger and better levels, and help the industry grow equivalent to the remarkable position it holds globally."
And to that end, our startup is leveraging a combination of vernacularity, game streaming, casual gaming, hardcore gaming, game tournaments’ hosting as well as our internal in-house game development competency, which are some of the key factors that have led a pool of investors to instate solid faith in us,” added Parth.
Parth Chadha, Co-founder and CEO, EWar Games
The platform also hosts and streams tournaments of PUBG, Call Of Duty (COD), Free Fire, and other popular game tournaments with participation from world-renowned players such as Scout, Owais, and Gill.
"The trend of people staying indoors far longer in recent months has accelerated a significant wave towards e-gaming. EWar being a leading startup in the Indian gaming and esports scene has been playing a pivotal role in providing numerous opportunities for Indian gamers through one comprehensive platform,” stated Vinay Bansal, Founder and CEO, IPV.