Singapore-headquartered Attention Holdings Pte.Ltd (ATTN), the parent company of EVOS Esports has secured $12 million in a Series B investment round led by Korean Investment Partners, according to a company release.
The financing also saw the participation from Mirae Asset Ventures, Woowa Brothers, Indogen Capital, Mandiri Investment Management Singapore, PT Surya Semesta Internusa Tbk as well as several family offices across Southeast Asia and Japan.
Existing investor Insignia Ventures Partners also joined the round. EVOS raised $4.4 million in its Series A round, led by Insignia Venture Partners with the participation of Indogen Capital, in November 2019.
As part of the latest deal, Korea Investment Partners executive director Sang-Ho Park will join the company’s board of directors.
“Esports is currently one of the fastest-growing industries, and ATTN has managed to establish itself as the most advanced esports platform across Asia. Ivan and his team have shown us that they have a clear roadmap moving forward and we believe they are on track to building the largest esports ecosystem in Asia,” Park said in the company release.
The company claimed that its revenue from the live streaming arm doubled since the start of 2020
and continues to peak month after month. The company also said, its overall revenue surpassed 2019
levels despite the pandemic outbreak.
ATTN chief executive officer and co-founder Ivan Yeo said, “global esports revenue is projected to grow at 15 per cent CAGR with our region showing the highest growth rate at 24 per cent CAGR. As the countries we are operating in are still largely untapped, we intend to maximise this opportunity and are well-positioned to launch the region’s first-ever esports platform”.
EVOS Esports operates in five SE Asian countries including Indonesia, Vietnam, Thailand, Singapore, and Malaysia. EVOS Esports claims to have as many as 80 e-sports players, divided into 13 teams across these five countries, per our earlier report. It plans to strengthen its core businesses by helping players enhance skills, promoting merchandise and membership programme in these regions.