The gaming industry is richer than the movies and music industry combined and it is only growing bigger every year. With lockdown in various countries around the globe due to COVID-19, the number of gamers has further increased. While most people play casually to relieve stress and unwind, e-sports or competitive gaming introduces an extremely lucrative arena to show off your skills and earn big bucks. Swedish esports platform Challengermode aims to make esports more accessible to everyone and its backers agree.
Fresh funding to enable product development and international expansion
Challengermode raised a notable €10.15 million in its latest funding round, which was led by eWTP Innovation Fund, the global investment arm of the Alibaba Group. Other investors such as the notable Swedish soccer player Zlatan Ibrahimovic, and Telia Ventures also participated in the funding round. The latest investment will enable the company to enable better reach, engagement, and monetisation of target audiences for a growing number of brands, content creators, game developers, and professional tournament organisers. The funds will also be utilised for expanding Challengermode’s business to North America, and further product development.