Singapore-based esports startup Ampverse has raised $12m in Series A funding led by Falcon Capital. The company claims this is the largest A-series raised by an esports organization in Southeast Asia, based on data from PitchBook and other third-party platforms. The round will be used to expand in Indonesia and the Philippines, acquire more esports teams, and scale Ampverse’s play-to-earn unit.
Founded in 2019, Ampverse’s portfolio includes Thai esports brands Bacon and MiTH; Vietnamese team SBTC Esports and India 7Sea. Its play-to-win business allows players to earn rewards by playing games like Axie Infinity, Townstar, and Spider Tanks, and also to train with professional esports players. Ampverse has worked with clients like Disney, Samsung, McDonald’s, Nestlé, Lazada and Porsche.
Ampverse CEO Ferdinand Gutierrez said the company’s revenue grew 125% in the past 12 months, during which it expanded into Vietnam and India.
Gutierrez told TechCrunch that Ampverse was founded because his team saw a “tremendous opportunity to build a company with intellectual property and products for gaming fans that sits at the intersection of gaming and culture. popular, whether it’s esports teams, merchandise, or other fan experiences.” The company’s management team previously held positions at media, entertainment and gaming companies like Havas, Twitch and Universal Music.
He added that the expansion into Indonesia and the Philippines “will complement our SEA footprint”, which already includes Singapore, Thailand and Vietnam.
“We felt that these two markets were strategically important markets in SEA, given the dynamic esports markets they are, as well as the popularity of games such as Mobile Legends in these markets which complement existing game titles that our teams compete in,” Gutierrez said, noting that Indonesia is the biggest gaming market in Southeast Asia. Meanwhile, in the Philippines, there are over 43 million active gamers, a number that has grown 12.9% annually since 2017 thanks to the growing accessibility of smartphones.
Other participants in the round include returning investors Vulpes and Gandel Invest, as well as people like Rob Gilby, Disney’s former managing director for Southeast Asia; GoGame CEO David Ng; Culture Group CEO Michael Patent; and Marcus John, former Vice President of Lagadere and Wolfpack Fund.
In a prepared statement, Falcon CEO Wil Rondini said, “The growth the Ampverse team has achieved in a short time is monumental. With their ongoing esports M&A strategy and vision of gaming to win, we know the future is bright for Ampverse.