Infofed, the owner of Thailand eSports Arena, has raised an undisclosed amount of investment in pre-Series A round from Japan’s GameWith while Prudential Corporation Asia has received a life insurance licence in Myanmar.
Thai eSports startup Infofed raises pre-Series A from Japan’s GameWith
Infofed, the owner of Thailand eSports Arena, has raised an undisclosed amount of investment as part of its pre-Series A round from GameWith, Japan’s leading gaming community, according to an announcement.
Infofed will use the proceeds to expand its coverage in Southeast Asia. Though the investment value was not disclosed, Infofed was said to look to close $2-$3 million for this round.
“There is a huge untapped potential for eSports in Southeast Asia and the investment from GameWith will help us to establish a stronghold in this region by creating a proper ecosystem for e-sports lovers,” said Infofed CEO and founder Jirayod Theppipit.
In February, Infofed secured an undisclosed amount of seed funding from Singapore-based venture capital firm KK Fund and Thai marketing platform Event Pop.
Prudential receives life insurance licence in Myanmar
Life insurer Prudential Corporation Asia has received a life insurance licence from the Ministry of Planning and Finance (MoPF) of Myanmar to operate in the frontier country, according to an announcement.
With Myanmar, the life insurer has a presence in 13 life insurance markets and 25 life and asset management businesses across Asia.
Prudential intends to embrace a digital-led strategy, complemented by face-to-face distribution, to broaden access to life insurance in Myanmar.
In April 2019, Prudential was granted approval by MoPF as a preferred applicant to operate a wholly-owned life insurance operation in Myanmar.
Last month, Prudential Myanmar moved into its new corporate office in Sule Square in Yangon, reinforcing its commitment to the long-term development of the country.