Home Funding UK-based Dubit raises USD 8 million for Roblox esports events

UK-based Dubit raises USD 8 million for Roblox esports events

UK-based Dubit, a game studio that develops virtual world gaming events, raised USD 8 million on 15th November.

Investors: French investors Jean-Charles Capelli and Metaventures led the funding round, valuing Dubit at USD 55 million.

Purpose of funding: A live esports league will be hosted in Roblox (a metaverse platform), the first of its kind in the world. As part of the expansion, the company introduces the Metaverse Gaming League (MGL), hosting branded gaming events and esports competitions. MGL is the first eSports championship across the metaverse, presented by Metaventures and Dubit. Funds have also been injected into the Roblox Gaming event. As well as this, it plans to launch more events on other major platforms, including Minecraft and Core.

About Dubit

Source: Dubit LinkedIn

Founded in 1999 by Ian Douthwaite, Matthew Warneford and Adam Hildreth, Dubit is located in Leeds, United Kingdom. A leading digital gaming studio, Dubit provides startups and global businesses with innovative virtual platforms and software. With offices in Britain and the United States, Dubit works closely with international brands like Facebook (Meta), Disney, and Hyundai. There are hundreds of millions of players playing Dubit’s partner games monthly. The company will open a New York City studio in 2022 to further expand its US presence. In addition to creating games for brands, the company participates in integrating branded content with the top Roblox games to provide their millions of monthly players with branded content. People share their experiences through Roblox, a virtual platform in which they can share virtual experiences. At present, the Metaverse Gaming League offers live streaming in Roblox with over 200 million monthly users.

What the founder has to say

“We’re delighted to be working with Jean-Charles Capelli to pioneer new ways in which brands can enter the metaverse, such as through our Metaverse Gaming League.  The investment will also allow us to create massively interactive live events in music and fashion that brands can partner with. It’s an exciting time for Dubit, putting all of our experience and expertise to work in the metaverse,” said Matthew Warneford, co-founder at Dubit.

What the investor has to say

“Dubit is in the perfect position to take advantage of the new opportunities in the metaverse. No other company has 20 years experience in developing and launching virtual worlds, combined with a great network of brands and organisations that it works with around the world. As an entrepreneur and musician, I’m proud to invest in Dubit, and I’m excited to help scale up the incredible experiences it creates for users of Roblox and other metaverses,” said Jean-Charles Capelli at Metaventures.

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Varun Nath writes about the startup ecosystem on VC Bay. A student at Delhi University, he is pursuing a Bachelor of Commerce degree. In pursuit of exploring the world of finance and technology. You can reach him at varunnath155@gmail.com


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