Singapore e-sports company ESPL snags funding from VC firm 500 Startups

SINGAPORE-BASED Esports Players League (ESPL) has secured an undisclosed investment sum from US venture capital (VC) firm 500 Startups as part of its seed round fundraising, both companies said on Thursday.

The early-stage VC firm's investment will support ESPL in rolling out ESPL-branded tournaments and platforms to 10 countries in the first year of its operations.

The e-sports tournament platform provider focuses on creating mobile ecosystems for amateur e-sports leagues globally, but also has PC and console-based video games in its network.

It has a national franchise model which allows up-and-coming e-sports talents to participate in global competitions, and facilitates grassroots participation.

ESPL currently has franchise partnership agreements in South-east Asia and Latin America. It also entered its first media partnership with eGG Network, an e-sports TV network in South-east Asia and Australia that reaches about 100 million viewers.

The startup is co-founded by former eSports.com chief executive officer Michael Broda, founder of Australia-listed iCandy Interactive Kin Wai Lau, and Azrin Mohd Noor of behavioural data and technology firm Sedania Innovator Berhad.

ESPL is headquartered in Singapore with regional offices in Cologne and Los Angeles.

The first ESPL season is planned to run from April to November 2020, with official details about the tournaments and locations to be announced soon, ESPL said.