AFK Gaming Raises $200K In Pre-Series A Round From Inflection Point Ventures Fund will be utilized for expanding scope of coverage to additional esport titles in Southeast Asia
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AFK Gaming, an esports content platform on Thursday announced that it has raised $200K in a Pre-Series A round from Inflection Point Ventures. The company in the last four months has claimed to have scaled its reach by 400 per cent.
The firm will utilize the fresh fund to link reach to revenue through programmatic and direct advertising while also expanding the scope of coverage to additional esport titles in Southeast Asia.
In addition to robust growth across web, video and social media, the company has signed service contracts with some of the largest tournaments' organizers, publishers & brands in India.
Started in 2012 by Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar, AFK Gaming currently clocks over 15 million monthly impressions across web, video and social media.
The company has also signed service contracts with some of the largest tournaments' organizers, publishers & brands in India.
Commenting on the investment, Vinay Bansal, founder chief executive officer, IPV said, "The ongoing pandemic has introduced us to many aspects of keeping ourselves engaged. Esports and e-gaming have also emerged as new aspects for many of us and companies like AFK Gaming have played a part in keeping us informed about esports in the lockdown. The impact is clear as they registered 4X growth in users. We believe emergence of esports will see an accelerated acceptance in India. Just like healthcare and education, tech will also disrupt many high-ticket sports properties and we believe AFK gaming is poised well to leverage this opportunity."
On the recent development, Nishant Patel, co-founder, AFK Gaming said, "Despite some of the best esports teams, tournaments and players hailing from the Asian region, there is a distinct lack of coverage available for the global audience. AFK Gaming aims to bridge this gap by marrying our understanding of esports content creation with IPV's expertise in building scalable, sustainable businesses. Through IPV's network of senior business professionals, we hope to jump the learning curve with respect to media monetization, fundraising and other key elements for our growth."