New Delhi: Esports start-up Gamerji on Wednesday said that it has raised $3 million in a Pre-Series A round from GVFL (formerly Gujarat Venture Finance Limited) and existing investor Unicorn India Ventures.
Including the current fundraising, Gamerji said it has raised a total of $5 million to date.
As per the company, the funds raised will be used for growing the platform in recently launched international markets within the Middle East and North Africa (MENA) region along with launch plans for Southeast Asia (SEA) starting with Indonesia and Philippines.
The company also plans to use these funds towards developing tech solutions and Esports as a service (EaaS) to enhance the online gaming experience.
Founded in 2019 by Soham Thacker, this Ahmedabad-based startup allows gamers to compete, host esports tournaments and interact with other users.
Gamerji said that it aims to bridge the gap between amateur and professional gamers via esports tournaments.
“Gaming landscape in India has changed drastically. The stakeholders and aspiring gamers are spending more time understanding the gaming industry. This has resulted in fast growth of the sector. Gamerji has had a head start and we have already launched in the Middle East. We are also in the process of rolling out in newer geographies and fresh infusion of capital will help us meet our growth targets ahead of timelines,” said Soham Thacker, CEO & Founder, Gamerji.
“Gamerji is India’s leading platform for esports gaming tournaments and we are excited to support such a dynamic organisation. Gaming is one of the fastest-growing industries in India with mobile gaming dominating the sector, accounting for more than 90% of it. Together, we aim to help them expand their footprint and digital presence across the globe,” said Kamal Bansal, managing director of GVFL.
The platform claims to currently serve over 4 million users and host more than 400 tournaments a day across 22 titles including BGMI, Free Fire Max, Call of Duty Mobile, Clash Royale, CS:GO, among others. Besides, it also began global operations in the UAE and Saudi Arabia, which host more than 100K users.
The startup said that as per FICCI-EY report, the online gaming segment is expected to reach INR 153 Bn by 2024 at a CAGR of 15% to become the fourth largest segment of the Indian M&E sector, driven by innovations across NFTs, the metaverse, and esports.