Thai eSports startup Infofed grabs funding from KK Fund, Event Pop

Infofed
Image from Infofed's Facebook page

Bangkok-based eSports startup Infofed has secured an undisclosed amount of seed funding from Singapore-based venture capital firm KK Fund and Thailand-based marketing platform Event Pop.

Bangkok Post separately reported that the investors have acquired a 25 per cent stake in the startup.

Infofed has developed the country’s first eSports platform, eArena. Following its first-ever University E-Sports Championship (UEC) in Thailand last month, the startup is preparing to launch the second season of the full-scale university eSports league in Cambodia, Laos, Malaysia, Vietnam and Thailand.

Infofed’s chief executive and founder Jirayod Theppipit told local media that the firm is targeting revenue growth of 20 per cent this year in line with the growth trend in the eSports market.

Theppipit said Thailand currently has at least 10 million gamers, of which half are serious contenders for playing in competitions. Also, the country is estimated to generate around 150 million baht ($5 million) in revenue from more than 50 eSports competitions held last year.

The eSports market is estimated to be worth around $1 billion globally. The United States represents 30 per cent and Asian countries, mainly China and South Korea, account for up for 40 per cent.

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