SEA esports firm Ampverse bags US$12m in funding to aid in expansion

Southeast Asian esports start-up Ampverse has raised US$12 million in a Series A fundraise, which according to the company is the largest of its kind in the sector in Southeast Asia. The new funds raised will allow expansion into the Indonesian and the Philippine markets, further esports team acquisitions and are earmarked to scale Ampverse's play-to-earn business unit. This includes acquiring play-to-earn guilds as Ampverse dynamically moves into the P2E space to complement its existing esports IP pillar.

Ampverse is headquartered in Singapore and the round was led by global investment fund Falcon Capital, which holds a strong portfolio in leading tech and entertainment companies, including soon-to-IPO Triller, an international social video platform. The round also included follow-on investment from both Singaporean fund Vulpes and Gandel Invest, both of which participated in prior Ampverse rounds.  The new Series A investors join a list of investors which include former Disney SEA MD Rob Gilby and former VP of Lagadere and Wolfpack Fund Marcus John.

“We will utilise these funds to move forward and solidify our position within Southeast Asia by continuing scaling our esports and new play-to-earn business unit through further M&A,” said Ampverse CEO Ferdinand Gutierrez. MARKETING-INTERACTIVE has reached out to Ampverse for additional information.

Over the last 12 months, Ampverse has driven a 125% up in revenue growth, with continued expansion into the Vietnamese and Indian markets. Previous funding rounds have also been met with great success, as a result of a successful accelerated growth strategy, which in FY2019-20 recorded 150% year-on-year revenue growth for Ampverse. When the company first bagged its pre-Series A round in 2020, Ampverse said it will use the capital to drive further regional expansion across Southeast Asia, supported by a 100% headcount increase over the next 12 months, and a programme of M&A investments across local markets.

Meanwhile, Ampverse recently acquired a controlling stake in Vietnamese esports organisation SBTC Esports and has officially partnered with Razer to enable esport team Bacon Time to continue its growth under the Team Razer banner in the gaming industry. Bacon Time is one of Ampverse’s winning championship teams based in Thailand. Ampverse, founded in 2019, currently operates in Vietnam, Thailand, Hong Kong, India and Singapore. 

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