Cloud gaming's Gamestream secures €4.5m in funding to fuel growth
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Mar 19, 2024 | investment | Gamestream | $0m €4,000,000m |
- Investment firm Audacia and French public sector investment bank Bpifrance, have joined the company's existing investors through its Tech and Touch fund.
Cloud gaming company Gamestream has raised €4.5 million to expand its cloud gaming operations as it currently offers its games through partnerships with publishers such as Disney Interactive, Outright Games, and Microids.
Created by co-founders Ivan Lebeau and Xavier Cavin, the platform launched in 2019 and requires three megabits of bandwidth. The platform has also acquired over 300 licenses, catering to families and casual gamers.
The french white-label platform deploys its service across Europe, the Middle East, Asia, and India. It also distributes its software through Accor hotels worldwide. Following its recent expansion in India, the company now sets its sights on West Africa.
The future of gaming
Co-founder and president Ivan Lebeau says, “There is less competition from American giants in these countries, even though the need is great. Few people can afford to buy a console, and even fewer can afford games for €70 each."
“Therefore, the demand for Cloud Gaming is high. Players can access unlimited console-quality licences from their computer, tablet, or smartphone for just a few euros a month. This new fundraising will allow us to impose this model on the international scene further," said Lebeau.
Investment firm Audacia and French public sector investment bank Bpifrance, have joined the company's existing investors through its Tech and Touch fund.
Thomas Schmitz, Audacia's investment director comments that “streaming represents future of video games" and that Gamestream has a tremendous opportunity in the market as it focuses on a specific audience: gamers in emerging countries, with untapped potential.
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