The Southeast Asian video game company Ampverse recently closed a $12 million Series A funding round. According to a press release, these funds will be used to acquire more esports teams and P2E gaming guilds. Moreover, this money will also help Ampverse expand into the Indonesian and Philippine markets.
“Ampverse has witnessed tremendous growth over the last twelve months, with 125% revenue growth and expansion into the Vietnamese and Indian markets, while also strengthening our esports assets portfolio,” said Ferdinand Gutierrez, the CEO of Ampverse. “We will utilize these funds to move forward to solidify our position within Southeast Asia by continuing our expansion into Indonesia and the Philippines. We are also thrilled to continue scaling our esports and new play-to-earn business unit through further M&A.”
The Series A funding round was led by Falcon Capital with additional contributions from Gandel Invest and the Singaporean fund Vulpes. Some of the other people that have already invested in the company include Rob Gilby (Disney SEA Managing Director), Michael Patent (Culture Group CEO), and Marcus John (former Vice President of Lagardere Sports & Entertainment)
Ampverse was founded in 2019. Since then, the company has acquired four gaming organizations: SBTC Esports, 7Sea, Bacon Time, and Made in Thailand.
(All information was provided by Esports Insider)