● The Pre-Series A round raised by EWar was led by IPV; JITO Angel Network and Hyderabad Angels also participated in the round
● The funds raised to be used for enhancing EWar’s products and technologies
Delhi/Bangalore, 21st December 2020: Bengaluru-headquartered gaming and esports start-up EWar Games has raised a Pre-Series A funding round led by Inflection Point Ventures (IPV) — India’s largest and most active angel network. JITO Angel Network, Hyderabad Angels, and Ms. Pearl Agarwal, Founder & Director, Eximius Ventures also participated in the round. Notably, Ms. Agarwal participated in her personal capacity.
The funds raised will be utilized to drive further penetration into the Indian esports segment by introducing several new/innovative technologies and products which will provide a huge boost to the gaming ecosystem. Apart from marketing and growing the franchise and the platform, EWar is also developing a layer over its existing esports products to make the segment more competitive and increase external viewership.
This is the second round of funding raised by EWar during the current year. The company had earlier raised an angel round of $200,000 from House of Jindals and Mr. Jeet Banerjee (Founder, Gameplan) in January this year.
Vinay Bansal, Founder & CEO, IPV says, “The trend of people staying indoors far longer in the recent months has accelerated a significant wave towards e-gaming. EWar being a leading start-up in the Indian gaming and esports scene has been playing a pivotal role in providing numerous opportunities for Indian gamers through one comprehensive platform. We were impressed by EWar team’s technical capabilities and their product-first and customer-first approach.”
As of date, EWar’s platform has acquired a user base of 1 Mn users, and over 60K games are being played daily on EWar app. The start-up aims to have 5 Mn users by the end of the next year, and aims to become the go-to destination for all gaming enthusiasts as well as the most popular and most-valued gaming platform in India in the years to come.
Parth Chadha, Founder & CEO, EWar Games says, “In a year raged with the pandemic, we are fortunate enough to have received two rounds of funding at a time when most VCs are going slow on signing cheques. We at EWar are on a mission to take esports in India to much bigger and better levels, and help the industry grow equivalent to the remarkable position it holds globally. And to that end, our start-up is leveraging a combination of vernacularity, game streaming, casual gaming, hardcore gaming, game tournaments’ hosting as well as our internal in-house game development competency, which are some of the key factors that have led a pool of investors to instate solid faith in us.”
Mr. Sunil Kumar Singhvi from JITO Angel Network says, “EWar’s unique product solves the critical voids present in other similar gaming platforms in the Indian market; the start-up has done a great job at creating and nurturing a one-stop solution for gamers in India through a single, all-encompassing gaming platform. For us at JITO Angel Network, encouraging new-age, promising entrepreneurs and start-ups have always been the top agenda; and by backing EWar, we not only are fuelling innovation for the future but also catapulting further boost for the country’s esports and gaming ecosystem.”
EWar Games has built a first-of-its-kind vernacular gaming platform in India, which is being used by gamers to play their favourite games, stream, interact, watch (the gaming content streamed by other gamers), earn virtual or real money (while playing), and so on. Apart from a wide variety of both casual and real-money games, EWar is also focusing on the booming esports segment, wherein the start-up has introduced its flagship ‘Mahayudh’ mega tournament franchise in India (which is hosted three times a year with participation from amateur and pro gamers from all parts of the country). The platform also hosts and streams tournaments of PUBG, Call Of Duty (COD), Free Fire and other popular game tournaments with participation from world-renowned players such as Scout, Owais, and Gill.
