EsportsXO Raises Next Funding Round Led by SOSV’s Orbit Startups and SucSEED Indovation Fund

Bengaluru-based EsportsXO secures next tranche of strategic investment to fuel expansion and growth

EsportsXO, a frontrunner in the esports and gaming startup landscape in India, announces an undisclosed amount in its ongoing funding round. The funding round was led by renowned investors SOSV’s Orbit Startups and existing investors SucSEED Indovation Fund and Mumbai Angels, with participation from other strategic backers such as WeFounderCircle and Imperial Holdings. This investment signals a crucial milestone for the company’s ambitious plans for expansion and innovation.

EsportsXO, founded in 2020 by Vikas Goel, Utsav Umang, and Rohit Raj, stands out as a trailblazer in the rapidly evolving esports sector. The company’s commitment to providing cutting-edge online esports tournament management systems has garnered attention and support from investors and industry leaders.

Vikas Goel, CEO and Co-founder of EsportsXO, shared his vision for the company’s future, and said, “XO aims to become the largest game and player discovery platform for gamers. Game advertising is a $130 Bn market. With BattleXO, we are not just targeting gamers but also addressing the needs of game developers and tournament organisers, enabling them to leverage technology for scalable reach through data-driven campaigns. The infusion of capital will further empower us to tackle the next significant challenge – expanding our company in size and increasing our user base.”

Accelerated Growth and Operational Excellence

EsportsXO has demonstrated robust growth over the past 18 months, investing time and resources in platform development, cost optimisation, and refining unit metrics. This strategic approach has resulted in a positive EBITDA for the last quarter and continued growth in the current quarter, reinforcing the startup’s financial sustainability. The recently secured funding is poised to play a pivotal role in amplifying EsportsXO’s business development initiatives and accelerating overall growth.

Oscar Ramos, Managing General Partner at Orbit Startups and Venture Partner at SOSV, highlighted the booming esports market in India, and said, “The esports market in India is taking off, driven not only by a growing fan base and the professionalisation of competitive gamers but also by the involvement of both local and international brands. These brands recognise the importance of the industry for the consumers of the future. The EsportsXO platform is built from the bottom up, enhancing the experience and maximising value for every party in the ecosystem.”

Investor Confidence and Continued Success

Vikrant Varshney, Co-Founder and Managing Partner of SucSEED Indovation Fund, expressed confidence in EsportsXO’s trajectory, and said, “EsportsXO is a SaaS-based platform to design, launch, and manage online esports tournaments by building a community for console, PC, and mobile gamers across the world on a unified platform. Since the time we funded them in the first round, EsportsXO has kept us impressed with their journey of growth. They have hosted 25,000+ tournaments, have 1000+ tournament organisers on their platform, generated over $4M lifetime revenue with less than $1.5M spend, and have distributed USD 100K+ in sponsored rewards. As the company prioritised growth, it has successfully generated value for stakeholders as well. We take immense pride in the notable expansion of our portfolio company.”

Vikas Goel added, “Just as technology has disrupted the healthcare, food, logistics, and commerce sectors, it is inevitable that gaming will undergo a similar transformation. EsportsXO is poised to lead this disruption from India, shaping the future of gaming.”

Founded by Vikas Goel, Utsav Umang, and Rohit Raj, EsportsXO is the sole company that adds comprehensive value to the entire gaming ecosystem, catering to the needs of gamers, game developers, and brands alike. The platform collaborates with game developers and brands to enhance visibility among the dynamic Gen Z gaming community through community-building and targeted advertising.

About EsportsXO

EsportsXO, headquartered in Bengaluru, Karnataka, has emerged as one of India's fastest-growing esports organisations since its establishment in 2020. EsportsXO has distinguished itself by providing cutting-edge online esports tournament management systems. Beyond its technological prowess, the organisation is home to a curated assembly of creators and athletes who collectively engage an audience surpassing a million, united by the common goal of cultivating the world's most extensive community of PC, mobile, and console gamers. To know more, visit www.battlexo.com.

PickMyWork Raises $1 Mn in Seed Round from Orbit Startups

PickMyWork, a startup that assists digital companies to acquire end customers (individual users and merchants), has announced raising USD 1Mn in Seed round. The round led by SOSV’s Orbit Startups witnessed participation from an array of esteemed investors including Soonicorn Ventures, Upaya Social Ventures, Blume Founders Fund, Venture Catalyst, Mumbai Angels, 888 Network, Imperier Holdings and WeFounderCircle. The round also saw investment from prominent CXOs in the startup ecosystem Akash Gupta, CEO - Zypp Electric, Gaurav Chopra, CEO - IndiaLends and Prajakt Deolasee, CTO - Turtlemint.

PickMyWork is India’s largest digital distribution network, allowing digital companies to acquire end customers based on a pay-per-sale model, at a very low CAC. PickMyWork currently works with 3,00,000 gig workers as part of its network, offering them supplemental earning opportunities to increase their income. The company reports 3X earnings per hour of effort as compared to other delivery gigs, with a model that is 1/10th cheaper compared to online marketing or having in-house sales teams for internet companies.

PickMyWork has worked with 25 clients to date, assisting them in acquiring 5 lakh end customers. Its clients include Meesho, Freecharge, IndusInd Bank, Flipkart, Fi Money, Amazon Pay, and Airtel Payments Bank, AU small finance bank to name a few.

"With new internet businesses launching every day there is a dire need for a strong distribution pillar to catalyse their growth. It becomes an impossible task for these businesses to penetrate the tier 2 and tier 3 markets where there is still a grave need for assistance as these geographies gradually adapt to the digital world. PickMyWork is bridging this gap for various businesses, while simultaneously creating income sources. We have seen the model succeed, which is also reflecting in our month-on-month growth rate of 30%. We are glad that our investors are here to guide us as we move towards our ambitious targets,” said Mr. Vidyarthi, CEO PickMyWork.

"PickMyWork is solving the biggest challenge in terms of customer acquisition for international corporations and high-growth startups alike, all while helping India’s gig workers upskill and create the future they want,” said William Bao Bean, Managing Director of Orbit Startups. “We’re proud to be a part of their mission as the team goes on to empower India’s entrepreneurs and shape the course of technological advancement in Tier 2+ cities.”

"PickMyWork is making the job market inclusive through its sales-gig platform by creating employment opportunities for the unemployed and under-employed youth, especially from the underserved communities. Their earn-as-you-learn model, which consists of capsule-sized learning and the flexibility to choose work, has found an excellent product-market fit with the youth. PickMyWork is poised to grow exponentially in the coming months with its seamless tech that interfaces with customers who are providing work and the youth that are looking for dignified, flexible jobs. We are excited to partner with the team,” AB Chakravarthy, India Country Director (Upaya Social Ventures).

PickMyWork plans to use the raised funds in growing its network of agents in various geographies pan India. A part of the raised investment will also be utilised in strengthening the technology backbone which will further increase the efficiency of the distribution.

About PickMyWork

Gurugram-based PickMyWork is a gig platform that helps digital companies acquire end customers for their products through a Pay-per-task model at a very low CAC. Started by three friends who are now co-founders, Kajal Malik, Vidyarthi Badireddy, and Utsav Bhattacharjee, founded PickMyWork in 2019. With Indian youth primed to complete delivery gigs for Food Delivery / Hyperlocal apps like Swiggy, Zomato, Big Basket and earn commissions, the founders created PickMyWork, a pay-per-sale gig platform, where sales gigs could be completed for internet companies with the promise of 3X earnings/hour of effort compared to delivery gigs.