Indian esports tournament platform Gamerji has announced raising $3 million in a Pre-Series A round from GVFL (formerly Gujarat Venture Finance Limited) and Unicorn India Ventures, which has backed Gamerji from its early stages.
In a statement, the startup said it will use the fresh funds for growing the platform in recently launched international markets within the MENA region along with launch plans for SEA starting with Indonesia and the Philippines.
The company also plans to use these funds towards developing tech solutions and EaaS (E-sports as a service) to enhance the online gaming experience.
Founded in 2019, by gaming expert and serial entrepreneur, Soham Thacker, Ahmedabad based Gamerji aims to bridge the gap between amateur and professional gamers through their tournaments. The company allows gamers to compete, host matches, communicate & get recognised for their gaming skills.
Soham Thacker, CEO & Founder, Gamerji says, “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.”
Gamerji has raised $5 million till date in funding including this round.
Kamal Bansal, Managing Director, GVFL, says, “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.”
Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, says, “Gamerji’s vision to provide a credible platform for amateur gamers as they aspire to become pros is a large untapped market. Right from the start, Soham has worked towards this mission and we have seen the merits of it resulting in Unicorn India doing 3 rounds of funding in the Company. And we continue to support Gamerji’s growth story.”
In the last 12 months, Gamerji has grown from 1M to 4M+ users along with serving tournaments for more than 22 core esports titles. It has also launched international operations in UAE & Saudi Arabia, where it has over 100k + gamers in the region. Gamerji’s strategy is to build a large user base in India and cater to cross-border tournaments in other regions. Currently, the platform hosts more than 400 tournaments a day across 22 titles including BGMI, Free Fire Max, Call of Duty Mobile, Clash Royale, CS:GO and more.
According to the FICCI-EY media and entertainment report 2022 – ‘Tuning into Consumer’, the online gaming segment is expected to reach INR 153 billion 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.