Virtex, the creators of the virtual esports stadium, today announced a $3.2 million Seed round of funding to expand its team. The round was supported by institutional investors, amongst others Global Founders Capital, All Iron Ventures, and Graph Ventures, as well as prominent angel investors such as Mario Götze, Andre Schürrle, and the founders of XL Esports.
Virtex removes the limitations of the real world to redefine the esports and sports fan experience, allowing experimentation and innovation to help create unforgettable live shows and events. The Virtex Stadium platform has created an entirely new medium to provide engagement with esports - where fans can view the gameplay live in 3D in the center of the stadium. Fans can even jump from their seat right into the game and follow their favorite players in real-time as the action unfolds.
Monetization in esports is recognized as a tremendous obstacle, and so Virtex prioritized advancing the industry by eliminating barriers and empowering esports content creators with a new, free, immersive, audience channel. The platform offers new revenue streams in a more meaningful context, for instance, a virtual avatar jersey is more meaningful in a virtual stadium than standalone in a digital wallet.
The capital, coinciding with a notable partnership with Meta and Echo VR, will be used to continue the company’s growth and establish its presence through similar partnerships. The founding team, passionate about the esports industry, sees their platform as a transformative layer that others in the space can build upon.
“I’ve been a part of the esports industry for the greater part of the last decade, and during this time I’ve worn many hats, from fan to player, team owner to on-air talent and production,” explains Tim Mcguinness, Co-Founder, and CEO of Virtex. “Through my proximity to and passion for the growing industry of over five hundred million fans, I’ve gained a deep understanding of what those passionate about esports are looking for from their community. With this funding and our continued growth, I’m confident that the value of this billion-dollar industry will continue to grow, at all levels of the ecosystem, as fans and players alike will have new platforms to connect and grow upon.”
The complete list of investors includes Global Founders Capital, All Iron, Graph Ventures, Sure Valley Ventures, Possible Ventures, and angels like Soccer World Cup Winners Mario Götze, and Andre Schürrle as well as esports founders Wouter Sleijffers and Mark Cater.
For more information on Virtex, please visit virtexstadium.com
About Virtex:
Virtex is the creator of the world's first virtual esports stadium, Virtex Stadium. The company combines the best of both worlds: creating the most exciting experience in esports and bringing fans closer to the game. Virtex removes the limitations of the real world, allowing experimentation and innovation to help create unforgettable live shows around popular games and events. Having been a part of Esport's live events as competitors, organizers, and fans, Virtex cherishes the unique atmosphere of a live show. Current partners include Echo VR and Meta.
For more information, please visit virtexstadium.com.
Photo: Tim Mcguinness and Christoph Ortlepp , Virtex founders
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