We Founder Circle, a founder-backed early-stage company investor, and Wami Capital invested in EsportsXO, a SAAS-based tournament finding platform for gamers, in a seed round of USD 1.1 million. Other notable investors who participated in the round lead by We Founder Circle included SOSV, Mumbai Angels Network, SucSEED Innovation Fund, The Gaming Lounge, and FAAD Network. Before raising this first investor round, the founding team of Vikas Goel, Utsav Umang, and Rohit Raj had contributed 200K USD in their own capacity to create the company.
Start-up based in Bengaluru Game producers and companies can use EsportsXO to create special tournaments for their users. The company is working on a long-term strategy to create an esports community for fans, players, and others. In just 90 days, the site has accumulated over 150K users and is growing at a rate of 20% month over month.
Commenting on the investment Bhawna Bhatnagar, Co-Founder, We Founder Circle said “SAAS industry has been witnessing tremendous growth in India, given the availability of the quality resources, professionals, and a wide user base. EsportsXO has cut a considerable slice in the market in a very short span of time. Given the unique approach the brand is sure to resonate with the audience, expand its footprint and join the top- leagues soon.”