E-sports startup GamingMonk Entertainment Pvt. Ltd said it had raised $one hundred,000 (Rs 69 lakh at present-day change rate) from Japanese company GameWith, Inc., which owns and operates a recreation statistics website.
“The Indian gaming industry remains at infancy degree and wishes the information of stalwarts like a game with to flourish at its quality and with this partnership we’re very hopeful of exchanging the revel in of our gamers as properly the perceptions of non-game enthusiasts,” said Ashwin Haryana, co-founder, GamingMonk, in a statement.
GamingMonk changed into founded with the aid of Amity University graduates Abhay Sharma and Haryana in November 2014. It started as an e-trade marketplace for consoles, gaming titles and different accessories, and later pivoted to become an organiser of e-sports activities.
The firm organises on line and offline e-sports activities. Offline tournaments are held across 8 towns and the corporation plans to extend insurance to 16 towns this year.
GamingMonk claims to have organised extra than two hundred aggressive tournaments across the united states with 35,000 contributors. The platform hosts tournaments of games along with PUBG, CS:GO, DOTA 2, FIFA, Call of Duty, and Clash Royale.
Last 12 months in October, it raised Rs 4 crore in a clean round of funding from Japanese seed investment firm Incubate Fund and Google India handling director Rajan Anandan.
A seize of different investors including Stellaris Venture Partners, Smile Group, and AdvantEdge also participated in that round.
Venture capital company AdvantEdge had formerly invested in GamingMonk in September 2017.
GamingMonk claims to have grown its user base through 500% within the closing six months.
According to a report by way of consulting major KPMG and Indian Federation of Sports Gaming, the online gaming industry in India is predicted to generate a sales of Rs 11,900 crore by way of 2022-23. The number of game enthusiasts have crossed 250 million, and the discerning is anticipated to attain 628 million by 2020, the report stated.
Earlier this month, Mumbai-primarily based fantasy sports startup HalaPlay Technologies Pvt. Ltd stated it had raised Rs forty crore ($five million at modern-day change rate) in a Series A round from cell game developer Nazara Technologies Ltd and on line casino gaming business enterprise Delta Corp Ltd, each headquartered in India.
The same month, TechCircle mentioned that Dream11, a delusion gaming platform, may want to quickly vault into the unicorn membership with Hong Kong-based hedge fund Steadview Capital set to wager greater than $a hundred million at the startup.
Last year, Mumbai-based Nazara Technologies Ltd received a fifty-five % stake in Gurugram-based e-sports activities platform Nodwin Gaming.