May 26, 2022

Singapore-based esports startup Emverse has raised $12 million in Series A funding led by Falcon Capital. The company says it is the largest Series A produced by an esports organization in Southeast Asia based on data from PitchBook and other third-party platforms. The round will be used to expand its footprint in Indonesia and the Philippines, acquire more esports teams, and expand the Empower division on a play-to-earn basis.

Established in 2019, Empower’s portfolio includes Thai esports brands Bacon and Myth; Vietnamese team SBTC Esports and 7Sea from India. Play to Earn activities allow players to earn rewards by playing games such as Ax Infinity, Townstar and Spider Tank, as well as learn from professional esports players. Ampverse has worked with clients such as Disney, Samsung, McDonalds, Nestle, Lazada and Porsche.

Empverse CEO Ferdinand Gutierrez said the company’s revenue is up 125% in the past 12 months as it expanded into Vietnam and India.

Gutierrez told gaming-updates that Empowers was founded because the team “sees a huge opportunity to build a company with intellectual property and products for game fans that sits at the intersection of gaming and popular culture, be it teams, businesses, and more. fan experience.” The company’s management has previously held positions in media, entertainment and gaming companies such as Havas, Twitch and Universal Music.

He added that the expansion to Indonesia and the Philippines “completes our presence in Southeast Asia,” which already includes Singapore, Thailand and Vietnam.

“We felt these two markets were strategically important markets in SEA given the dynamic esports markets and the popularity of games like Mobile Legends in those markets, which complement the existing games our team competes in,” said Gutiérrez. noting that Indonesia is the largest gaming market in Southeast Asia. Meanwhile, there are more than 43 million active players in the Philippines, and since 2017, the number has increased by 12.9% annually thanks to the growing penetration of smartphones.

Others in the round include returning investors Vulpes and Gandell Invest, as well as the likes of Rob Gilbey, former director of Disney’s Southeast Asia; David Ng, CEO of Gogame; Culture Group CEO Michael Patent; Marcus John, former Vice President of Lagdere and Wolfpack Fund.

In a prepared statement, Falcon CEO Will Rondini said, “The growth that the Empowers team has achieved in a short period of time is monumental. Thanks to their relentless esports M&A strategy and the “play to earn” concept, we know the future is here. pink for amps. ,

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