Startups Investment Recap – November 10
Hello HYPE readers!
Welcome to your bi-weekly recap where we come to you with all the green goodness in the startup investment sector. Let’s dive in.
Edge received a new investment of $1.5M
Esports startup Edge has received a new investment of $1.5 million into the business. The funding round was led by Blake Picquet and included investments from Green Egg Ventures, Game Tech Ventures, and Robert Reeg, former president of Mastercard Global Technologies. The investment will be used to expand the business, hiring people for marketing and business development, as well as more technical talent to improve the platform. Edge is developing a platform that automates and simplifies a lot of the financial transactions around esports, such as contracts with professional players and payments to influencers or other parties.
Shotcall announced the close of a $2.2M seed round
Shotcall announced the close of a $2.2 million seed round led by Initial Capital, New Stack and Lerer Hippeau. The company was founded by Thomas Gentle, Gordon Li and Riley Auten and aims to increase engagement for streamers by giving their fans what they really want: a chance to play alongside their favorite content creator. The platform allows streamers to set up a tournament, coaching session, Q&A, charity event or whatever type of event they’d like, and fans can pay to get in on the action. Thus far, Shotcall has amassed around 350 active hosts and more than 4,500 fans have been active on the platform in the past two months.
Immortals raises $26m in a Series B-1 financing round
Alongside the sale of its Call of Duty League franchise spot to 100 Thieves, Immortals Gaming Club announced that it has raised a $26m in a Series B-1 financing round. The round was led by the family office of Meg Whitman, already an Immortals Gaming Club investor and board member. Further investors included AEG and March Capital Partners. The organisation plans to use the funding to continue growing its own Immortals team brand, alongside Brazil’s MIBR team brand and Gamers Club’s competitive matchmaking platform and to expand the Gamers Club platform to new regions and add further game titles and services.
Scopely raised $340M in its latest round of funding
In a move to shore up institutional support in what will likely be its last fundraising as a private company, the Los Angeles-based mobile gaming behemoth Scopely has raised $340M in its latest round of funding. Some of the largest institutional financing firms, like Wellington Management, TSG Consumer Partners, CPP Investments and funds managed by BlackRock, participated in the round just one year after the company raised $200M in another late-stage round. The round also saw participation from NewView Capital, Battery Ventures, Greycroft, Revolution Growth, and Highland Capital Partners, and values the company at $3.3 billion.