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BUSINESS

Sedania Innovator surpasses target in e-sports fundraising round

05/05/2021 11:27 AM

KUALA LUMPUR, May 5 -- Sedania Innovator Bhd, through its associate company, Esports Players League (ESPL), has surpassed its target in the Pre Series A fundraising round with over RM32 million post-money valuation.

Founder and managing director Datuk Azrin Mohd Noor said the latest valuation means ESPL capital growth had surged by 900 per cent in just 18 months.

“Our ESPL network has a global audience of over 91 million with strategic partners across 16 countries, and we are close to increasing that to 20 countries soon”, said Azrin in a statement today.

Sedania Innovator said based on the statistics produced by Global Esports Market 2020, e-sports profits stood at US$1.1 billion (US$1=RM4.11), increasing 15.7 per cent compared to 2019. 

By 2023, they are expected to reach US$1.6 billion, it said.

-- BERNAMA

 

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