The micro venture capital fund Eximius Ventures recently launched “The Gaming Lounge” as part of an effort to support funding in the esports and gaming sectors. The Gaming Lounge already made its first investment after it participated in a seed funding round for EsportsXO.
EsportsXO is a SaaS (software-as-a-service) platform that simplifies the process of esports tournament discovery. The organization was founded in 2020 and currently has a growth rate of 20% month-on-month.
“Indian gaming is the second-fastest-growing segment in entertainment after OTT platforms. Globally, it has become the fifth-largest gaming market with a CAGR of 30%. However, merely 10% of the 800 gaming companies are funded today,” said Pearl Aggarwal, the managing director of Eximius Ventures.
The Gaming Lounge is expected to make more investments in the industry. The organization plans on investing in six to eight start-up gaming companies over the coming weeks and months.
(All information was provided by Inc42)