This investment signals a crucial milestone for the company’s ambitious plans for expansion and innovation.
Vikas Goel, CEO and Co-founder of EsportsXO, said in a statement, “XO aims to become the largest game and player discovery platform for gamers. Game advertising is a $130 Bn market. With BattleXO, we are not just targeting gamers but also addressing the needs of game developers and tournament organisers, enabling them to leverage technology for scalable reach through data-driven campaigns. The infusion of capital will further empower us to tackle the next significant challenge – expanding our company in size and increasing our user base.”
The company has demonstrated robust growth over the past 18 months, investing resources in platform development, cost optimisation, and refining unit metrics. This strategic approach has resulted in a positive EBITDA for the last quarter and continued growth in the current quarter, reinforcing the startup’s financial sustainability. The recently secured funding is poised to play a pivotal role in amplifying EsportsXO’s business development initiatives and accelerating overall growth.
Oscar Ramos, Managing General Partner at Orbit Startups and Venture Partner at SOSV, highlighted the booming esports market in India, and said, “The esports market in India is taking off, driven not only by a growing fan base and the professionalisation of competitive gamers but also by the involvement of both local and international brands. These brands recognise the importance of the industry for the consumers of the future. The EsportsXO platform is built from the bottom up, enhancing the experience and maximising value for every party in the ecosystem.”
Vikrant Varshney, Co-Founder and Managing Partner of SucSEED Indovation Fund said, “EsportsXO is a SaaS-based platform to design, launch and manage online esports tournaments by building a community for console, PC, and mobile gamers across the world on a unified platform. They have hosted 25,000+ tournaments, have 1000+ tournament organisers on their platform, generated over $4M lifetime revenue with less than $1.5M spend, and have distributed USD 100K+ in sponsored rewards.”Vikas Goel added, “Just as technology has disrupted the healthcare, food, logistics, and commerce sectors, it is inevitable that gaming will undergo a similar transformation. EsportsXO is poised to lead this disruption from India, shaping the future of gaming.”Founded by Vikas Goel, Utsav Umang, and Rohit Raj, EsportsXO aims to add comprehensive value to the entire gaming ecosystem, catering to the needs of gamers, game developers and brands. The platform collaborates with game developers and brands to enhance visibility among the dynamic Gen Z gaming community through community-building and targeted advertising.
