Bengaluru: Ghack Technologies Pvt Ltd, which operates gaming and e-sports startup EWar Games, has raised an undisclosed sum as part of its pre-Series A fundraise, it said on Monday.
The round in the Bengaluru-based startup has been led by Inflection Point (IP) Ventures, with participation from JITO Angel Network and Hyderabad Angel. Eximius Ventures founder and director Pearl Agarwal also participated in this round, EWar Games said in a statement.
EWar Games was set up last year by Parth Chadha, with Rahul Singh as a co-founder. The company operates a vernacular gaming platform where users can play, stream, interact, and earn both virtual and real money. It also operates tournaments in the e-sports segments, with a focus on popular games such as PUBG, Call of Duty, and Free Fire.
The firm will use the capital it has raised in this round to increase its penetration in the e-sports segment by introducing new products, with a focus on marketing, franchise growth, and increasing external viewership.
EWar Games says it currently has a user base of one million and is aiming to increase this figure to five million by the end of next year.
The pre-Series A round in the company is the latest investor bet on gaming, a segment that has seen a huge jump in attention and funding in the past couple of years.