Midnite, a London, UK-based esports betting startup, raised over $2.5m in funding.
The round, which brought the total funding raised to date to approximately $4.5m, was led by Makers Fund with participation from Venrex Investment Management, and undisclosed founders and executives from leading gaming companies, such as Betfair and GVC.
Founded in 2016 by Nick Wright and Daniel Qu, Midnite provides a betting platform focused on esports fans, who can bet on their favorite teams, stream matches directly from the system, and level up their match day experience. Currently live in private alpha, the platform allows people to bet on Rainbow Six, League of Legends, Dota 2, Counter-Strike, Call of Duty, etc.
The company, which has already obtained a betting license by the UK Gambling Commission, plans to continue to expand operations in global jurisdictions where betting is legal.
The team includes engineers, quants, designers and marketers who all share a passion for esports and betting and want to bring fans together and level up their match day experience using modern technologies. To this end, they are building a technologically advanced platform which is intuitive, immersive, and immediately understandable for all levels of esports fans. People interested in traditional solutions, can visit FreeBetInfo.com online bookies for the best betting offers in 2020.
The funding round follows recent deals closed in the esports industry globally in the latest months. In details, the startups securing funds include:
- 99math, a Tallinn, Estonia-based startup that created eSports style competitions for math students (which raised $500k in funding),
- eGoGames, a Madrid, Spain-based creator of an esports platform for mobile devices (which secured €3M in Series B funding),
- ProGuides, a Los Angeles, CA-based eSports learning platform for committed gamers (which grabbed $5m in seed funding)
- Callisto Gaming, a Singapore-based women eSports organization (which raised US$500k in funding)
- Game.tv, a San Francisco, CA-based AI-powered Esports Tournament Platform (which secured $25m in funding)
- eFuse, a Columbus, OH-based web and mobile application that serves as the professional hub for esports and video games (which raised $1.4m in seed funding).