Blockchain-based esports fan engagement startup STAN raises USD 2.5 M in seed funding

Bengaluru-headquartered blockchain-based esports fan engagement startup STAN has raised an equity funding of USD 2.5 million in its seed round.

The round was led by venture capital firm General Catalyst, alongside other VCs including Better Capital and Eximius Ventures.

It also saw participation from multiple superangels such as Aadil Mamujee from Opensea, and Nakul Gupta from Coinbase.

"The amount raised in this round will be utilised by STAN to provide unparalleled, best-in-class experiences to today's gaming and esports fans worldwide by launching its flagship platform, as well as to extensively partner with a plethora of top gaming organisations and players across India and other countries in parallel," the startup said in a statement on Wednesday.

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STAN said it has built a one-stop platform for the constantly growing pool of esports fans in India and the world to optimally engage, play and grow closer to their idols in the gaming and esports space using digital collectibles and/ or mutable NFTs.