Indonesia-based E-sports platform, EVOS has bagged US$ 12M in a Series B funding round held in October 2020. The round was led by Korea Investment Partners along with participation from Mirae Asset Ventures, Woowa Brothers, Indogen Capital, previous investor Insignia Ventures Partners, and several family offices across Southeast Asia and Japan.
Capital raised in the funding round will mainly be used by the startup in the development of its platform.
EVOS Esports is owned and run by Singapore-headquartered Attention Holdings. The startup is presently South East Asia’s leading e-sports organization that trains over 15 professional teams across 5 different nations, including Indonesia, Vietnam, Thailand, Singapore, and Malaysia. It claims to have more than 80 e-sports players and aims to fortify its main business by helping players improve their skills, endorse merchandise and membership programs in the above-mentioned regions.
E-sports influencers play a vital role in EVOS’s live-streaming and content platforms. As per its Chief Strategic Officer Ang Teng Jen, its leading influencers earn approximately US$ 30K to US$ 60K per month. So far, it claims to have worked with 400 gaming influencers.
EVOS provides contracts, brand endorsement deals, and offline event performances to its influencers, and also manages their social media channels and creates content for them. The influencers have a total of over 2 million followers on their social media handles with more than 34 million subscribers to their channels. It has, to date, partnered with 150 brands, such as Lazada, Gareno, and Lenovo. It also collaborates with e-commerce brands to generate e-sports content on the brands’ platforms, for example, e-sports game shows and online user contests with professional players. EVOS has evolved to become the 6th largest e-sports brand worldwide and claims it has witnessed a doubling of revenue from its live-streaming arm since the beginning of 2020 which continues to rise month after month. The startup’s overall revenue has exceeded its 2019 figures regardless of the COVID-19 pandemic.
The startup had previously raised US$ 4.4M in a Series A funding round held in 2019, from Insignia and several angel investors.
About Korea Investment Partners
Korea Investment Partners is a Korea Investment Holdings company, and a prestigious venture capital and private equity company focusing on small- and mid-cap businesses. It has been continually discovering, funding and promoting the growth of talented businesses since its foundation in 1986. KIP has been managing 20 funds totaling a size of over US$ 1.5B. Each year, KIP invests in about 50 companies from Korea, China and the U.S.A.
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