May marks the fourth of five months this year in which The Esports Observer tracked less than ten investments disclosed during the month. In April, esports relevant companies disclosed $52.77M USD raised in investments. This brings the total sum of disclosed investments in 2020 to $926.5M.
The continued low number of investments for esports companies correlates with the economic effects of the ongoing global COVID-19 pandemic, which created financial bottlenecks for startups in the ecosystem.
Financial terms were not disclosed for all deals highlighted in this article.
BLAST Raises Funds to Diversify
Esports competition organizer BLAST raised €12.5M EUR ($13.5M) in funding from various technology and venture capital companies led by Johan Gedda, co-founder of Rocket Software, and returning investor Vækstfonden, the Danish state’s investment fund.
According to the company’s CEO Robbie Douek, the financing will fund future production and diversification of BLAST’s portfolio.
Giants Gaming Finances Expansion Plans
Giants Gaming, the parent of Spanish esports organization Vodafone Giants, secured a €3M ($3.3M) investment round from Spanish businessman José Antonio Sánchez Cózar. The organization plans to use the proceeds of the investment round to continue its international expansion and to establish a headquarters in Málaga, Spain.
Earlier this week, Giants Gaming announced that it acquired the Spanish esports team x6tence, which will be integrated into the organization through onboarding the management staff and Counter-Strike: Global Offensive roster.
Capital for Analytics and Coaching Technologies
Gaming performance analytics company Statespace raised a $15M Series A investment led by Khosla Ventures. The company, which was founded by a group of neuroscientists from New York University, revealed that it plans to use the investment proceeds to further grow its team, which has doubled since its $2.5M seed investment in August 2019.
Esports organization T1 Entertainment & Sports made an investment in esports analytics startup Gamers Net, which runs the Mobalytics platform. T1 CEO Joe Marsh will serve as an informal advisor and resource to the team at Mobalytics.
Swedish AI coaching platform developer Leetify raised a €900K ($972K) seed investment led by Finnish technology fund Inventure, which exceeded the company’s $864K target. The company intends to use its new funds to accelerate its growth by improving products and hiring new talent.
Blitz Studios, developer of Sleeper, a social platform for sports, closed a $20M Series B investment and launched a fantasy sports game for several major League of Legends esports leagues. Investors that participated in Blitz Studios’ latest financing round include Twitch co-founder Kevin Lin, NBA players Kevin Durant and Baron Davis, NFL player JuJu Smith-Schuster, and tech investment firm Andreessen Horowitz.
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