[YS Exclusive] Blockchain gaming startup OneTo11 raises $2.5M in seed round
, a Noida-based blockchain gaming startup, recently raised $2.5 million in its seed funding round.
The investment was led by institutional investors including Oracles Investment Group, Maximus Capital, GDA Capital, Magnus Capital, NFT Technologies, Dutch Crypto Investors, Oracles Investment Group, International Blockchain Consulting, Jason Stone, and Carl Runefelt.
In an official statement, the startup said it plans to utilise the funds in its global expansion by entering into new markets — such as the Middle East, Europe, and North America. It also plans to introduce high-quality games to its state-of-the-art gaming ecosystem, designed specifically to match the demands of gamers from these different nationalities.
Ravindra Kumar, CEO of OneTo11, said,
“We are really excited with the trust and brand value we have been able to generate with the growth of OneTo11 in the last 15 months. Our vision for OneTo11 becoming a global gaming ecosystem is coming to fruition.”
“With the investment being raised, we are all set to go into the next stage of aggressive expansion and explore further possibilities of bringing play-to-earn gaming to everyone. The funding will greatly help us venture into the global market with top quality games and a more comprehensive gaming economy,” he added.
Founded in 2020 by Ravindra Kumar, Tirath Chand Sharma, Anirban Chatterjee and Manasvi Singh, OneTo11 has brought forward a cohesive gaming ecosystem based on the play-to-earn model. Furthermore, it leverages new technologies – blockchain and NFT trading — to generate value in next-gen gaming applications.
Apart from market expansion, OneTo11 is also moving aggressively on its hiring spree. It is planning to expand its team by hiring new talent across different positions to improve the quality of the games and the user experience for its global pool of gamers.
OneTo11 has launched a strong portfolio of games for gaming enthusiasts across the globe. It plans to add football, basketball, baseball, and field hockey as fantasy sports to accommodate its global pool of gamers. Besides this, it will be adding American football as a strategic move to align with the North American market.
Within a year of launching, OneTo11 claims to have acquired a user base of over two million registered users and facilitated 18 million transactions in the 15 months since its launch in October 2020. In addition, the company plans to launch the first public sale of their 1TO11 governance token and the NFT marketplace in the upcoming months.