Competitive gaming firm EVOS Esports has secured $12 million in a Series B funding round.
Korea Investment Partners led the investment. There was further participation from Mirae Asset Ventures, Indogen Capital, Woowa Brother and a range of family offices found across Japan and Southeast Asia. Furthermore, existing investor Insignia Ventures Partners also took part.
Moreover, Korea Investment Partners executive director Sang-Ho Park will join the board of directors for Attention Holdings (ATTN), the parent company of EVOS Esports.
"Esports is currently one of the fastest-growing industries, and ATTN has managed to establish themselves as the most advanced esports platform across Asia. Ivan and his team have shown us that they have a clear roadmap moving forward and that we believe they are on track to building the largest esports ecosystem in Asia," said Park.
Since the start of the year, EVOS has doubled the revenue generated from its live streaming arm. Furthermore, the company has surpassed its earnings from 2019 despite the uncertainty esports faced thanks to COVID-19.
"Korea Investments Partners are the leading investors in the esports and gaming space, and we are excited that they have decided to join us on our journey. With their global portfolio and in-depth experience in this industry, we believe that we have secured the right partners to bring our company to the next level," said ATTN CEO Ivan Yeo.
"Global esports revenue is projected to grow at 15 per cent CAGR, with our region showing the highest growth rate at 24 per cent CAGR. As the countries we are operating in are still largely untapped, we intend to maximise this opportunity and are well-positioned to launch the region's first-ever esports platform."