Gurgaon-based esports startup PlayX has secured undisclosed amount as angel funding led by Lead Angels Network - an alumni focused pan India angel network.
The startup, operated by DKG Nextgen Sports Entertainment Pvt. Ltd, will use the funds to develop its technology, build the team and create gaming focussed marketing campaigns, Kabeer Jain, founder, told in an email interaction.
Launched in Jan 2017, PlayX enables Indian gamers to compete in skill-based gaming tournaments for cash prizes & other goodies.
PlayX is an esports platform built for the Indian gamers. Gaming in India is growing rapidly and pro gamers are looking for avenues to showcase their talent and make a career in gaming.
"At PlayX, gamers can compete against other players from all over India in daily/weekly gaming tournaments and win cash prizes. Our proprietary ranking algorithm enables us to organise tournaments for players with different skill levels.
India is a mobile gaming nation and we expect mobile esports to become huge in India driven by triple factors of growing smartphone share, cheap high-speed data, and a massive young populartion.” explained Kabeer.
The company currently organises online tournaments for popular games on consoles & mobiles and is adding more games across genres. PlayX earns its revenues through commission charged as platform fee as well as through sponsorships. PlayX has worked with players like Paytm, BenQ and Smaaash in the past.