Gaming platform Stan has successfully raised $2.7 million in Pre-Series A funding, with participation from investors including Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and existing investors like General Catalyst. This funding round follows their earlier seed funding of $2.5 million in May 2022, led by General Catalyst and featuring participation from Better Capital and Eximius Ventures.
Founded by Parth Chadha and based in Bengaluru, Stan is dedicated to providing creators with the essential infrastructure to nurture gaming communities. The newly acquired capital will enhance this infrastructure, offering creators advanced content development and monetization tools, including features like digital collectables, chat and audio rooms, and exclusive celebrity communities.
Additionally, the platform has plans to collaborate with prominent gamers and e-sports personalities to enrich user experiences. Currently, Stan boasts around 4 million users, with 75% of them residing in tier 2 and tier 3 cities.
Parth Chadha expressed the challenges creators face in monetizing their content in the Indian market. He emphasized Stan’s goal of tapping into the creator supply to help them grow their fanbase and monetize from the outset.
Anand Chandrasekaran, a partner at General Catalyst, expressed their continued support for Stan’s progress and excitement about the platform’s role in bolstering the growing esports ecosystem in India.
According to a recent EY report, India is the second-largest online gaming market globally, with approximately 425 million gamers, second only to China. The report also forecasts an increase in the percentage of paying gamers, which is expected to reach 34% by FY28. Notably, India’s top 10 gaming influencers command a substantial following, highlighting the immense potential and dynamic nature of the country’s online gaming sector. For more information, stay tuned to the IncBasil Website.
