Team Vitality to expand into India backed by an Indian investor

by November 8, 2019 0 comments

India is seeing a surge in esports. Most of it can be attributed to the huge popularity of PUBG Mobile, which is also the most popular esports in India. Just recently, Fnatic announced their venture into India by acquiring a PUBG Mobile squad. Another esports organisation might soon be expanding into India: Team Vitality. 

As reported by Esports Insider, Team Vitality received 14 million Euros as an investment by Rewired.GG recently. This is in addition 20 million Euros received last year by the team in November. The capital will be used to expand into India and China. 

It should be worth noting that Rewired is an AI venture fund owned by Tej Kohli who is an IIT-Kanpur alumnus. On the other hand, Rewired.GG was created to drive growth in esports. He completed his B.Tech in Electrical Engineering in the 1980s and went on to found Grafix Softech to provide support for business-to-consumer e-commerce payments. He is now one of the world’s most well known philanthropists as well, with Tej Kohli Foundation and Tej Kohli Cornea institute working for the betterment of communities across the world. 

Speaking of the investment, Nicolas Maurer, CEO of Team Vitality, said “In 2013 we started Team Vitality with €10,000. Receiving further backing by Rewired.GG after the initial investment of €20M in November 2018 is a testament to the strength not only of the team but also a comment on the growth of the sector as a whole. This investment will go towards continuing to turn Team Vitality into a global esports brand and we look forward to providing further updates on our future wins as we continue to pursue V for Victory.” 

Amit Jain, Principal of Rewired.GG added, “We believe that esports is one of the world’s fastest growing industries today, and the success of teams like Team Vitality show that there is a real opportunity for growth in this market. We are well on the way to building one of the world’s first billion-dollar esports teams.” 
 

No Comments so far

Jump into a conversation

No Comments Yet!

You can be the one to start a conversation.

<