E-sports startup Ampverse closes pre-Series A round for regional expansion

GAMING media firm Ampverse, which connects brands, fans and gaming talent, has bagged pre-Series A funding to accelerate the growth of e-sports across South-east Asia.

The Singapore and Thailand-based startup on Tuesday said the round was oversubscribed, although it did not disclose how much was raised.

The round saw participation from investors in the global gaming, media, technology and finance sectors.

The strategic investors included Robert Gilby, former managing director at Disney South-east Asia; Axel Wehr, principal at Anterra Capital; Alex Khan, video ad tech firm Unruly's group managing director, international; Matt Sutton, entrepreneur-in-residence at Insead; and David Ng, mobile game publisher goGame's chief executive officer (CEO) and founder.

Vulpes Investment Management, an early-stage investor in Singapore-based unicorns PropertyGuru and Trax, also made a further investment in Ampverse. It did so via the Vulpes Special Opportunities Fund, which invests in companies with a "strong growth opportunity" in the post-Covid-19 world.

In a press statement, Ampverse said it will use the fresh capital to further expand in South-east Asia.

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This will be supported by doubling its headcount over the next 12 months, and merger-and-acquisition investments across local markets, the e-sports entertainment startup added.

The latest round of investment will also fund the development of proprietary technology solutions and a bespoke content studio.

Founded in 2019, Ampverse helps brands drive awareness, engagement, product placement and purchase among Gen Z audiences in the region. Its ecosystem includes owned-and-operated e-sports teams, gaming channels, original content programming, publishing assets and merchandise.

Brands it has worked with include EA, KFC, Pringles, Samsung, Tencent and Disney, according to its press statement.

Ferdinand Gutierrez, Ampverse co-founder and CEO, noted that South-east Asia's video-gaming industry has "vast opportunities for growth".

Over the past year, the startup has expanded into new markets, acquired major e-sports teams and worked with brands, and is now attracting a dynamic pool of investors, he added.