Bengaluru-based gaming startup STAN gets $2.7 million in pre-Series A funding round

STAN, a Bengaluru-based gaming startup, has raised $2.7 million in its pre-Series A round of funding from a slew of investors. 

These investors include Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and existing investor General Catalyst. The round was also supported by CoinDCX Ventures, Climber Capital, TDV Partners, and Coinswitch Ventures, the company said in a press release on Tuesday, January 23.
 
"We have been pleased with the progress and growth at STAN since their offerings launched 1.5 years back. We have been excited to see many esports superstars use them as the core platform to engage with their fans. In a macro environment where esports has now been duly recognized as a sport in India, General Catalyst is excited to continue to support the team," said Anand Chandrasekaran, partner, General Catalyst.
 
Launched in 2022, STAN is one of the most popular gaming companion apps globally and claims to have over 4 million users. With organic growth, 75 per cent of users are from throughout India, including Tier 2 and Tier 3 cities. The company's goal is to develop the Indian market, expand into the subcontinent, and achieve 10 million users in the next six months. The site sees 50 million microtransactions every year, with an impressive 70 per cent retention rate among paying users.
 
With the nеwly sеcurеd funds, the company aims to democratise infrastructure for the creators, leverage AI to develop a fluid community architecture and facilitate personalisation for usеrs, and collaborate with gaming lеgеnds.
 
In May 2022, STAN raised $2.5 million as part of its sееd funding led by General Catalyst, with participation from Bеttеr Capital, and Eximius Vеnturеs, among others.
 
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