Gaming Startup EWar Games Raises Pre-Series A Funding Round From IPV And Others
The company aims to use the fund for enhancing its products and technologies
Bengaluru-based gaming and e-sports startup EWar Games on Monday said to have raised a Pre-Series A funding round led by Inflection Point Ventures (IPV). JITO Angel Network, Hyderabad Angels, and Eximius Ventures founder and director Pearl Agarwal also participated in the round.
The undisclosed funds raised will be utilized to drive further penetration into the Indian e-sports segment by introducing several innovative technologies and products which will provide a huge boost to the gaming ecosystem.
Apart from marketing and growing the franchise and the platform is also working on its existing e-sports products to make the segment more competitive and increase external viewership.
"The trend of people staying indoors far longer in months has accelerated a significant wave towards e-gaming. EWar being a leading start-up in the Indian gaming and e-sports scene has been playing a pivotal role in providing numerous opportunities for Indian gamers through one comprehensive platform. We were impressed by EWar team’s technical capabilities and their product-first and customer-first approach,” said Vinay Bansal, founder, and chief executive officer, IPV.
The platform claims to have acquired a user base of 1 million users, and over 60,000 games are being played daily on its app.
The startup aims to have 5 million users by the end of the next year, and further plans to become the go-to destination for all gaming enthusiasts as well as the most popular and most-valued gaming platform in India in the years to come.
“In a year raged with the pandemic, we are fortunate enough to have received two rounds of funding at a time when most venture capitals are going slow on signing cheques. We at EWar are on a mission to take e-sports in India to much bigger and better levels, and help the industry grow equivalent to the remarkable position it holds globally,” said Parth Chadha, founder chief executive officer, EWar Games. “And to that end, our start-up 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.”
Apart from offering a variety of both casual and real-money games, the platform maintains that it is now focusing on the e-sports segment, wherein the start-up has introduced its flagship mega tournament franchise in India Mahayudh, which is hosted three times a year with participation from amateur and pro gamers across the country.
“EWar’s unique product solves the critical voids present in other similar gaming platforms in the Indian market; the start-up has done a great job at creating and nurturing a one-stop solution for gamers in India through a single, all-encompassing gaming platform. For us at JITO Angel Network, encouraging new-age, promising entrepreneurs and start-ups have always been the top agenda; and by backing EWar, we not only are fuelling innovation for the future but also catapulting further boost for the country’s e-sports and gaming ecosystem,” remarked Sunil Kumar Singhvi, member, JITO Angel Network.
The vernacular gaming platform has built a station, used by gamers to play, stream, interact, watch and earn virtual and real money while playing.
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 flagship product of gHack Technologies, founded in February 2019, aims to be a one-stop app for users for a range of competitive games, starting from micro skill-based games, mind-based games to e-sports, winning real money and rewards, and online game streaming.
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 Gameplan founder Jeet Banerjee in January this year.