Oslo-based Fantasy Chess, an interactive chess platform founded by 17-time World Chess Champion Magnus Carlsen, has raised $3M (approximately €2.8M) in a pre-seed round of funding.
The round was led by SNÖ Ventures and Coatue, with participation from Breakthrough Initiatives and Thiel Capital. The funding will support the expansion and enhancement of Fantasy Chess’ interactive platform for chess fans.
“We’re thrilled to be leading this investment alongside fantastic co-investors to support Fantasy Chess in its mission to add a new level of excitement to the world of chess,” adds Magne Uppman, founding partner of SNÖ.
Peter Thiel, founder of Thiel Capital and co-founder of PayPal, Palantir, and Founders Fund, adds, “Great chess players excel at ideas and winning – two concepts the Fantasy Chess team understands better than most.”
Elevating chess to the level of major global sports engagement
Fantasy Chess mentions that chess attracts nearly a billion players globally, yet many products and content cater primarily to advanced players, overlooking a vast demographic interested in the game.
Founded in April 2023, Fantasy Chess aims to enhance the engagement and accessibility of chess by offering users a rewarding way to follow top chess tournaments.
Founder Magnus Carlsen, says, “Interest in Chess has really boomed over the past 5 years with popular TV shows, movies and documentaries. Using other sports as a model, we see an exciting opportunity to further develop Chess into a much bigger spectator sport.”
In November 2023, Carlsen appointed Mats André Kristiansen as CEO of Fantasy Chess to lead platform development.
Kristiansen, known for co-founding Oda, Scandinavia’s largest online grocery retailer and Norway’s first startup unicorn, brings expertise in scaling digital products.
He says, “Our vision at Fantasy Chess is to elevate chess to the same level of excitement as other major global sports by creating a much more rewarding fan experience. We are already seeing promising proof points in Norway, where Chess’ popularity has exploded given the excitement surrounding Magnus’s success.”
“Millions are now watching and following Chess live and we feel we can grow the global audience significantly with a more user-friendly and engaging platform.”
What’s next?
Fantasy Chess plans to launch later this year, aiming to attract millions of casual chess players seeking an accessible way to follow professional tournaments.
Based in Oslo, Fantasy Chess intends to assemble a global team to develop, support, and market its platform, planned for an official launch in October.
The company says, “We are moving at a really fast pace and have lots of exciting plans for the future. We are now looking for top talent to join us on this mission of making chess a global spectator sport and are hiring for several positions. If you are an experienced CTO, CFO, or CPO – or simply want to develop, design, or bring content to life — we would love to hear from you!”
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