Esports One, the Fantasy startup has just raised $4 million in funding

Esports One, an eSports startup that brings a fantasy approach to professional gaming has just made a new announcement. Looking at the latest information available, the startup revealed that it has just raised $4 million in additional funding. The startup stated that XSeed Capital led this new funding along with Eniac Ventures, and Chestnut Street Ventures. The $4 million pushes the total amount of funding to $7.3 million. In addition, this new funding amount comes sometime after the company teamed up with ESL Gaming for a partnership. Let’s check out everything we know around Esports One funding, investment, and more here.

Esports One funding details and more

Talking about Esports One, it claims to be an “all-in-one fantasy platform” in the eSports segment. It allows one to research the eSports players while offering the option to create fantasy teams and even watch matches. Esports One is focusing on the North American and European League of Legends (LoL) divisions. The company also shared some crucial development aspects regarding the platform. As per the information, it had to build several analytics and data products along with computer vision technology. Esports One uses computer vision technology to keep track of in-game activity while updating player stats. This ensures that the platform is not depending on a publisher API for all the in-game stats.

The platform also noted that it is observing a user-base growth of more than 25 percent each month. According to a report from TechCrunch, the CEO, and co-founder of the startup, Matt Gunnin also outlines the possibility that they benefited from the pandemic. Gunnin believes that this fantasy platform can be a way to push video games to the mainstream while targeting a wider audience. He also outlined the immediate plan that Esports One will work on with the latest funding. The startup plans to grow its “Bytes” virtual currency. For some context, the platform uses Bytes for transactions around contests, customizations, and more.

Esports One is also working on native Android and iOS apps for the platform to grow beyond the desktop and smartphone web apps. In addition, the platform also plans to organize and develop fantasy events around Fortnite, Valorant, Rainbow Six: Siege, and Rocket League.