Southeast Asian esports firm Evos bags $4.4m in series A round

Esports organization Evos Esports announced that it has raised a total of US$4.4 million in its series A round.

The company closed its initial raise of US$3 million earlier this year, led by Insignia Ventures Partners. The additional US$1.4 million came from angel investors, Indonesian conglomerates, and the top management of “a leading ecommerce player in China.”

Photo credit: Evos Esports

Evos plans to use the new funds to grow its esports entertainment arm, which currently manages gaming influencers in both Indonesia and Thailand.

“Esports is one of the fastest-growing industries globally but remains largely untapped across Southeast Asia,” said Evos CEO Ivan Yeo. “We are looking to elevate esports in the region to the next level by developing the infrastructure to open up more opportunities for the millions of gamers in the region to tap into various esports engagements.”

Established in 2017, Evos aims to create the widest esports ecosystem in Southeast Asia and help grow gamers’ competitive, livestreaming, or coaching careers in esports. Since the initial close of its series A round, the company said it has won multiple regional championships across its portfolio of game titles.

The organization is also one of eight teams to compete in the first-ever Mobile Legends franchise league in Indonesia and is set to represent Singapore and Indonesia with three of its teams in the upcoming SEA Games.

Evos currently operates in five countries, with 13 teams and 62 players for games such as Arena of Valor, League of Legends, Mobile Legends, Point Blank, and Call of Duty Mobile.

Another esports organization in the region, Singapore’s Team Flash, also raised funding this year, bagging US$1.5 million in a seed round led by family office Octava. Team Flash previously said it will use the new funds to expand globally and further grow in Vietnam.