Gaming startup EsportsXO raises $1.1 million

We Founder Circle, a founder-backing-founder based early-stage startup investor and Wami Capital participated in Seed round of USD 1.1 million raised by EsportsXO, a SAAS based tournament discovery platform for gaming enthusiasts.

The round led by We Founder Circle also witnessed participation from other esteemed investors including - SOSV, Mumbai Angels Network, SucSEED Indovation Fund, The Gaming Lounge and FAAD Network. The Founding team Vikas Goel, Utsav Umang and Rohit Raj had earlier invested 200K USD in their personal capacity to launch the brand before raising this first investor round.

Bengaluru based start-up EsportsXO enables opportunities for game publishers and brands to launch custom tournaments for users. The brand has strategic planning to build an esports met-averse for fans, players and more.

“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,

“ said Vikas Goel, Co-Founder, EsportsXO.

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.