NEW DELHI: Bengaluru-headquartered gaming and esports start-up EWar Games has raised Pre-Series A funding from Inflection Point Ventures, India’s largest and most active angel network.
JITO Angel Network and Hyderabad Angels, Pearl Agarwal, founder & director Eximius Ventures, also participated in the round. Ms. Agarwal has participated in her personal capacity.
The funds raised will be utilized to drive further penetration into the Indian esports segment by introducing several new/innovative technologies and products which will provide a huge boost to the gaming ecosystem. Apart from marketing and growing the franchise and the platform, EWar is also developing a layer over existing esports products to make the segment more competitive and increase external viewership. The product is still in stealth mode but the target is to increase the audience of esports games, by giving them something to engage with.
This is the second round of funding raised by EWar during the current year. The company had raised an angel round of $200,000 from House of Jindals and Jeet Banerjee (founder, Gameplan) in January this year.
Vinay Bansal, founder & CEO, IPV says: “The trend of people staying indoors far longer these days has started a significant wave towards E-Gaming. EWar being a pioneer and a leading start-up in the Indian gaming and esports scene has been playing a pivotal role in providing numerous opportunities for Indian gamers to play, and shine, doing all this through one single, comprehensive platform. We were impressed by EWar team’s technological capabilities and their product-first and customer-first approach.
As of date, the platform has acquired an userbase of 1 million users, and over 60,000 games are being played daily on EWar app. The start-up aims to have 5 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.
Parth Chadha, founder & CEO, EWar Games, says: “In a year raged with Pandemic, we are fortunate to have received two rounds of funding at a time when most VCs are currently going slow on signing cheques. We 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. Going forward, EWar’s team remains committed to expanding and optimizing the product, technology and game offerings, while adding immense value for our users.”
EWar Games has built a first-of-its-kind vernacular gaming platform in India, which is being used by gamers to play their favourite games, stream, interact, watch (the gaming content streamed by other gamers), earn virtual or real money (while playing), and so on. Apart from a wide variety of both casual and real-money games, EWar is also focusing on the booming esports segment, wherein the start-up has introduced its flagship ‘Mahayudh’ mega tournament franchise in India (which is hosted three times a year with participation from amateur and pro gamers from all parts of the country). The platform also hosts and streams tournaments of PUBG, Call Of Duty (COD), Freefire and other popular game tournaments with participation from world-renowned players such as Scout, Owais, and Gill.
