EsportsXO, a tournament discovery platform for gaming enthusiasts, has raised $1.1 million from We Founder Circle, Wami Capital along with the participation of SOSV, Mumbai Angels Network, SucSEED Indovation Fund, The Gaming Lounge and FAAD Network.

The founders of EsportXO, Vikas Goel, Utsav Umang and Rohit Raj had earlier invested $200,000 in their personal capacity to launch the brand. The Bengaluru-based start-up enables game publishers and brands to launch custom tournaments for users. The platform claims to have registered over 1,50,000 users in a span of 90 days and is witnessing a 20 per cent month-on-month growth. EsportsXO has organised over 250 tournaments in 8 popular games with over 2 million people participating in the last one year.

Commenting on the fundraise, Vikas Goel, Co-Founder, EsportsXO said, “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."

Adding to this, 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.”

EsportsXO plans to invest 40 per cent of the fresh funds into tech and non-tech talent acquisition, while the rest will be directed towards aggressive marketing and operations.

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