SucSEED Indovation Fund, backs another gaming platform EsportsXO, as part of their Digital Economy & Emerging Tech focus.
With the Seed round, EsportsXO enables opportunities for game publishers and brands to launch custom tournaments for users.
EsportsXO, a SAAS based tournament discovery platform for gaming enthusiasts, raises Seed Round of USD 500K from SucSEED Indovation Fund. The round, additionally saw support from other regarded investors including — We Founder Circle, Mumbai Angels Network, SOSV, The Gaming Lounge (supported through Micro VC firm Eximius Ventures) and, FAAD Network.
EsportsXO is a tournament discovery platform for gamers and gaming enthusiasts. Platform has selected gaming content creators who enjoy followings and viewership in millions. XO was started in 2020, with an idea to
build the biggest community of console, PC and mobile gamers across the world, who can come together under a single roof.
Platform offers opportunity to game publishers and brands to launch custom tournaments to engage users. EsportsXO will build an esports metaverse of fans & players and offer other micro-services in e-learning, merchandising, NFTs, content and social networking.
Founded by Vikas Goel, Utsav Umang and Rohit Raj, EsportsXO launched a tournament management company in 2020 with 1.5 lakhs users. The brand has strategic planning to build an esports met-averse for fans, players and more.
It offers software to manage tournaments online. Having select pick gaming content creators who enjoy followings and viewership in millions. Started with an idea to build the biggest community of console, PC and mobile gamers across the world, who can come together under a single roof.
Vikas Goel, the Founder of EsportsXO, said -“Esports in India is at the same stage where e-Commerce was 15 years ago, there are a lot of opportunities for everyone. The market in India and the rest of the APAC region is very huge which gives us enough room for creativity and growth.”
Speaking on investing in EsportsXO, Vineeta Gupta, VP-Investments, SucSEED Indovation Fund, said “India is on it’s path of becoming one of the world’s leading markets in the Esports segment and will also emerge as one of the top 5 markets globally in the gaming industry. We like that EsportsXO is capitalizing on this opportunity and will soon emerge as a dominant player.”
According to the startup’s roadmap, EsportsXO has planned to invest 40% of the funds into tech and non-tech talent acquisition, while the rest will majorly be directed towards aggressive marketing and operations.
The brand’s USP lies in the SaaS tool that forms the center of EsportsXO strategy, with other aspects around the tool creating a nice flywheel effect for the company, that is simultaneously being translated in the revenue growth.