INSUBCONTINENT EXCLUSIVE:
Razer, the gaming hardware company that went public in Hong Kong last year, is resuming its investment strategy after it led a $3.3
million deal for Australia-basedEsports Mogul.
Esports Mogul is, as the name suggests, focused on e-sports
The company operates a platform for organizing e-sports competitions — called Mogul Arena — and a gaming news website
The firm is focused on Asia and Latin America and it went public in Australia via a reverse listing that raised it $7 million.
The new money
will go towards developing Mogul Arena for mobile, and funding user acquisition and monetization pushes, Esports Mogul said.
Razer already
works with Esports Mogul, and now this deal will increase the collaboration which will focus on integrating Razer payment system, which
itself was created by the recent acquisition of MOL, according to both companies.
Others in the round includeSingapore Cloud Alliance, which
develops software systems for gamers
It recentlyraised $15 million from an ICO and it said it plans to work more closely with Esports Mogul and Razer going forward.
Esports
Mogul said the round was over-subscribed, with existing investors and local Australian institutionsalso taking part
The deal is priced at AU$1.8 per share, which represents a20.55 percent discount on the company&svolume-weighted average share price over
Esports Mogul shares were priced just below $2 when it joined the ASX in late 2016.
