Stan Gaming, a Bengaluru-based gaming platform, has successfully raised $2.7 million in funding

Author: esports91


Published at: 08 Feb 2024

Stan, a Bengaluru-based gaming platform, has secured an impressive $2.7 million in Pre-Series A funding from a consortium of key investors, including Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and returning backers General Catalyst. This significant funding round follows closely on the heels of their successful $2.5 million seed funding round in May 2022, led by General Catalyst, with additional participation from Better Capital and Eximius Ventures.

Founded by Parth Chadha, Stan is committed to providing creators with the essential infrastructure necessary to nurture thriving gaming communities. The newly acquired capital will be strategically deployed to enhance this infrastructure, equipping creators with cutting-edge tools for content development and monetization. These innovative features encompass digital collectibles, interactive chat and audio rooms, and exclusive celebrity communities.

In a bid to elevate user experiences, Stan intends to forge partnerships with prominent gamers and esports personalities. With a current user base of approximately 4 million, with 75% hailing from tier 2 and tier 3 cities, Stan is poised to emerge as a key player in India’s dynamic gaming landscape.

Speaking to Mint, founder Parth Chadha shared his vision, stating, “The Indian market poses numerous challenges for creators seeking to monetize their content, and we aim to tap into this creator supply, assisting them in expanding their fan base and generating revenue from day one.”

General Catalyst partner Anand Chandrasekaran expressed his enthusiasm, remarking, “We have been thoroughly impressed by the company’s progress and are eager to witness their continued support for the burgeoning esports ecosystem in India.”

According to a recent report by EY, India stands as the second-largest online gaming market globally, boasting a staggering 425 million gamers, closely trailing behind China. The report also predicts a surge in the percentage of paying gamers, projected to reach 34% by FY28. Notably, India’s top 10 gaming influencers wield considerable influence, underscoring the immense potential and dynamic nature of the country’s online gaming sector. As India’s gaming industry continues to evolve, stay tuned for further developments on the horizon.