The Esports Players League finished their first funding round and secured $1 million in investments, with venture firm 500 Startups contributing the largest portion this seed. This $1 million will help ESPL launch their first tournaments from April to November 2020.
Who is the ESPL?
The Esports Players League, based in Singapore, is setting up to be the premiere amateur tournament operator for mobile games. The funding from this first seed round will help ESPL run “phase one” tournaments in Southeast Asia and Latin America and establish their footing as a provider.
Currently, 500 Startups is the first public investor of ESPL and is proud to show their commitment to the cause: “As with sports, it is inevitable that [esports] players in all countries and levels demand avenues to compete, participate and watch,” said 500 Startups managing partner Khailee Ng. “We’ve reviewed many esports business models and found this team and their vision most compelling.”
Why go mobile?
In Southeast Asia, mobile gaming dominates the market by a larger margin than it does in other regions. According to a Newzoo report, mobile games produce almost 70% of Southeast Asia’s total games revenue, clearly putting ESPL in a position to attract a large market of users. Most importantly, ESPL focuses on the larger amateur gamer market as opposed to a concentrated competitive one with fewer players.
If the ESPL succeeds with phase one, expect phase two to bring ESPL tournaments to markets in Europe, the Middle East, and North America by 2021.