Singapore-based esports startup Ampverse wins $12 million – MovieUpdates

Singapore-based esports startup Ampverse has raised $12 million in Series A funding led by Falcon Capital. The company says this is the largest Series A founded by an esports organization in Southeast Asia, based on data from PitchBook and other third-party platforms. The round will be used to expand in Indonesia and the Philippines, acquire more esports teams and scale up Ampverse’s play-to-earn unit.

Ampverse’s portfolio, founded in 2019, includes Thai esports brands Bacon and MiTH; Vietnamese team SBTC Esports and 7Sea from India. The play-to-earn activities allow players to earn rewards by playing games such as Axie Infinity, Townstar and Spider Tanks, as well as receive training from professional esports players. Ampverse has worked with clients such as Disney, Samsung, McDonald’s, Nestlé, Lazada and Porsche.

Ampverse CEO Ferdinand Gutierrez said the company’s revenue has grown 125% in the past 12 months as it expanded into Vietnam and India.

Gutierrez told MovieUpdates that Ampverse was founded because the team saw a “huge opportunity to create a company with IP and products for game fans that is at the intersection of gaming and popular culture, be it esports teams, merchandise products or other fan experiences.” The company’s leadership team has previously held positions at media, entertainment and gaming companies such as Havas, Twitch and Universal Music.

He added that expansion into Indonesia and the Philippines will “finalize our SEA footprint,” which already includes Singapore, Thailand and Vietnam.

“We felt that these two markets were strategically important markets in SEA, given the dynamic esports markets that they are, as well as the popularity of games like Mobile Legends in those markets, which complements the existing game titles in which our teams compete,” Gutierrez said, noting that Indonesia is the largest gaming market in Southeast Asia. Meanwhile, there are more than 43 million active gamers in the Philippines, a number that has grown by 12.9% annually since 2017 thanks to the growing accessibility of smartphones.

Other participants in the round include returning investors Vulpes and Gandel Invest, along with individuals such as Rob Gilby, former director of Southeast Asia for Disney; GoGame CEO David Ng; Culture Group CEO Michael Patent; and Marcus John, former vice president of Lagadere and Wolfpack Fund.

In a prepared statement, Falcon CEO Wil Rondini said: “The growth that the Ampverse team has achieved in a short space of time is monumental. With their continued esports M&A strategy and play-to-earn vision, we know the future is there. rosy for Ampverse.”

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