The company said in a press statement that the amount raised will be used funds to launch its subscription-based eSports portal, which will host tournaments for FIFA, Counter-Strike: Global Offensive, Dota 2, Clash Royale and Rocket League, among others.
According to a source, when asked about future plans, co-founder Ashwin Haryani said, “We are already getting significant inbound interest for our next round of funding and are in discussions with some strategic players both in India and overseas. A big announcement is expected towards the end of this year.”
The company was founded by Amity University graduates Abhay Sharma and Ashwin Haryani in November 2014 and started out as an e-commerce marketplace for consoles, gaming titles and other accessories, but pivoted last year to become an offline e-sports event organiser.
GamingMonk also hosts offline events in different parts of the country like hyderabad, Bengaluru, Delhi, Mumbai, Gurgaon etc.