Rajasthan-based Gaming Platform Tournafest Raises Pre-seed Funding
Rajasthan-based gaming platform Tournafest has raised Rs 3.05 crore in a pre-seed funding round from a clutch of investors, including India Quotient, FirstCheque, and other angel investors.
The funding round also saw participation from investors including Maninder Gulati (Global Chief Strategy Officer at OYO Rooms), Abhinav Sinha (Global Chief Operating Officer & Chief Product Officer at OYO), and several other prominent angels.
Tournafest
Founded by Ayush Agarwal and Kaustubh Trivedi, Tournafest is a Rajasthan-based gaming startup that is reinventing the Esports ecosystem with a seamless and motivating platform where gamers can enhance their skills with a network alike.
Speaking on the development, Ayush Agarwal and Kaustubh Trivedi, said,
“We want to reinvent how the Esports ecosystem works and move towards creating a collaborative and motivating platform where discoverability and scalability are fundamental. We believe that every gamer’s skills should be recognised and respected, and this platform will deliver just that to this growing community.”
Tournafest aims to provide gamers with the opportunity to compete in tournaments and practice scrims hosted by leading gaming communities in India.
Not only gamers, but Tournafest also enables organisers to conduct scalable Esports tournaments seamlessly and exhibit their verified progress to the corresponding sponsors.
The gaming sector in India is booming with increased funding and acquisitions. As per a report by Maple Capital Advisors, gaming startups in India have attracted deals worth $1.6 billion in the first nine months of 2021, exceeding the total value of investments in the sector in the last five years. Additionally, another report by Redseer stated that India’s gaming market is set to become $7 billion in FY2026 (more than 3X of the market in FY2021).
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