Ampverse secured $12 M in Series A funding for expansion in Indonesia, Philippines
Ampverse, a Singapore-based e-sports business, has raised $12 million in a Series A round of funding headed by global investment firm Falcon Capital.
Vulpes and Gandel Invest, both existing investors, also took part. Rob Gilby (former Disney SEA MD), David NG (CEO GoGame), Michael Patent (CEO Culture Group), Marcus John (former VP Lagadere), and Wolfpack Fund, created by former IMG and Group M executives, were among those who participated in the round.
The fresh funds will be used by Ampverse to grow in Indonesia and the Philippines, as well as to acquire new e-sports teams and build its play-to-earn business. As the corporation advances into the P2E arena to supplement its current e-sports IP pillar, this includes purchasing play-to-earn (P2E) guilds.
CEO Ferdinand Gutierrez said: “Ampverse has witnessed tremendous growth over the last twelve months, with 125 per cent revenue growth and expansion into the Vietnamese and Indian markets, while also strengthening our e-sports assets portfolio. We will utilise these funds to move forward to solidify our position within Southeast Asia by continuing our expansion into Indonesia and the Philippines. We will continue scaling our e-sports and new play-to-earn business unit through further M&A.”
Given the characteristics of their e-sports and P2E sectors, as well as the popularity of specific titles in these countries, he believes the Indonesian and Philippine markets are strategically important. They’ll be a nice addition to the titles in which its roster of clubs now participate.
Ampverse owns and runs e-sports teams in Asia, with prominent brand ambassadors and professional athletes at the crossroads of gaming and popular culture. It owns some of the finest e-sports teams in the world, as well as prominent gaming talent, P2E guilds, and a variety of experience items and gaming memorabilia.
Disney, Samsung, McDonalds, Nestle, Lazada, and Porsche are among its clients.
Ampverse has offices in Singapore, Malaysia, and India.
Not only in South and Southeast Asia but across the world, the gaming and e-sports industry is exploding. Southeast Asia has some of the highest NFT adoption rates in the world. With 32 percent ownership, the Philippines is leading, followed by Thailand with 27 percent and Malaysia with 24 percent. With 17% NFT ownership, Vietnam finishes out of the top five globally, just behind the United Arab Emirates (UAE), which has 23%.
“P2E game adoption is also on a high growth trajectory in the wake of the breakthrough game Axie Infinity, a Vietnam-made P2E game that generated over US$2.3 billion in sales and attracted some 2.5 million players. Since then, we have seen even more P2E games surface in the market with high potential to drive fast user adoption,” he said.
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