Fantasy sports and esports gaming app GoodGamer has raised US$2.5 million in its seed funding led by an undisclosed group of investors.
According to reports, the company is set to use nearly all the funds raised on user acquisition.
Bengaluru-based GoodGamer officially launched its daily fantasy sports and esports gaming app in India this September. GoodGamer Corp, the parent company, is based in Vancouver, Canada.
"The results from our first month of operations have proven to us what we always knew: India is a great market for us. While we will continue to push for growth, we also want to make sure our users have the best experience we can give them. We're introducing a number of new experiences and skills-based gaming styles that Indian users haven't seen before, including prop contests," Ravi said.
Prop contests are based on specific events happening during the game that are independent of the outcome.
"The uptake of our platform by the market has been overwhelming to say the least. With the help of our seed investors, we're now able to focus on user acquisition and scale," added GoodGamer CEO Charles Creighton.
The platform has signed international bowlers Umesh Yadav and Kuldeep Yadav as brand influencers. GoodGamer Fantasy is now running guaranteed one Lakh daily prize pools with a 1 rupee entry fee.
Despite the coronavirus pandemic disrupting businesses across the globe, the India gaming market has proven extremely durable in recent times with big investment in the burgeoning sector.
In other high-profile deals, MPL Raised US$75M in a funding drive, Dream11 secured US$225 million in September, and WinZo raised approximately US$15.5 million from investors.