Bengaluru-headquartered gaming and esports start-up EWar Games has raised a Pre-Series A funding round led by Inflection Point Ventures (IPV). JITO Angel Network, Hyderabad Angels, and Eximius Ventures founder and director Pearl Agarwal (Agarwal participated in her personal capacity) also participated in the round.
The funds raised will be utilised to drive further penetration into the Indian esports segment by introducing several new/innovative technologies and products which will provide a boost to the gaming ecosystem. Apart from marketing and growing the franchise and the platform, EWar is also developing a layer over its existing esports products to make the segment more competitive and increase external viewership.
This is the second round of funding raised by EWar during the current year. The company had earlier raised an angel round of $200,000 from House of Jindals and Jeet Banerjee ( Gameplan founder) in January this year.
IPV founder and CEO Vinay Bansal says, “The trend of people staying indoors far longer in recent months has accelerated a significant wave towards e-gaming. EWar being a leading start-up in the Indian gaming and esports scene has been playing a pivotal role in providing numerous opportunities for Indian gamers through one comprehensive platform. We were impressed by EWar team’s technical capabilities and their product-first and customer-first approach.”
As of date, EWar’s platform has acquired a user base of one million users, and over 60K games are being played daily on EWar app. The start-up aims to have five million users by the end of the next year and aims to become the go-to destination for all gaming enthusiasts as well as the most popular and most-valued gaming platform in India in the years to come.
EWar Games founder and CEO Parth Chadha says, “In a year raged with the pandemic, we are fortunate enough to have received two rounds of funding at a time when most VCs are going slow on signing cheques. We at EWar are on a mission to take esports in India to much bigger and better levels, and help the industry grow equivalent to the remarkable position it holds globally. And to that end, our start-up is leveraging a combination of vernacularity, game streaming, casual gaming, hardcore gaming, game tournaments’ hosting as well as our internal in-house game development competency, which are some of the key factors that have led a pool of investors to instate solid faith in us.”
JITO Angel Network Sunil Kumar Singhvi says, “EWar’s unique product solves the critical voids present in other similar gaming platforms in the Indian market; the start-up has done a great job at creating and nurturing a one-stop solution for gamers in India through a single, all-encompassing gaming platform. For us at JITO Angel Network, encouraging new-age, promising entrepreneurs and start-ups have always been the top agenda; and by backing EWar, we not only are fuelling innovation for the future but also catapulting further boost for the country’s esports and gaming ecosystem.”
