SoStronk, an online gaming platform, announced that it raised an undisclosed amount of money from IP Ventures in a recent funding round.
The capital from the funding will be used for research and development (R&D) and to expand its team, with a focus on marketing, recruitment, QA, and development.
“Esports is a very attractive segment with revenues already exceeding $1 billion. SoStronk is a platform created for gamers by gamers,” said Tanmaya Vats, Investor at IP Ventures. She added that “more than half of 200 million esports enthusiasts are based in Asia” and noted that SoStronk has built a strong presence in the CSGO space in the region.
SoStronk is an India-based startup, operated by Archetype Entertainment, which offers services for Counter-Strike: Global Offensive players and event organizers and focuses on esports markets in Southeast Asia and India.
CEO and Co-founder of SoStronk Prashant Prabhakar said that the company is “really excited to partner with IPV and will utilize the funds for R&D and growing the team.”
Last year, SoStronk entered a partnership with OpTic Gaming and AFK Gaming, a North America-based organization, to build an India-based CS:GO team. The team was formed in June 2018, but the global initiative was scrapped months before Immortals Gaming Club acquired the organization.
Featured image: DepositPhotos © AndreyPopov