Amuka Esports closes oversubscribed seed round; plans U.S expansion

TORONTO, Dec. 4, 2019 /CNW/ - Amuka Esports has announced today that is has closed an oversubscribed seed round of ~$588,000 CAD. 

Founded in 2019 by Ben Feferman and Aaron Meckler, Amuka Esports creates localized esports hubs that cater to casual and amateur gamers. Each hub consists of a gaming venue, tournament organizer, content team, merchandise and an esports business incubator. 

Use of proceeds for this seed round will be to continue to build the core assets at their flagship hub in Toronto and engage key stakeholders to facilitate their expansion into several U.S cities in 2020. 

"We are very proud of what we've been able to accomplish in less than 6 months of operations. Our hub in Toronto will soon be generating strong revenues as a result of growing attendance at events, corporate sponsorships and new media partners. With our local focus, we've been able to become a major force in the Toronto gaming community," according to Ben Feferman, co-founder and CEO.

According to analytics firm NewZoo, the esports industry is expected to generate over $1B in revenue for 2019 and the video game market is expected to exceed $150B. With strong numbers like these, co-founder and CFO Aaron Meckler is very bullish on the industry. "We've been watching the rise of esports over the past 5 years and felt now was the best time to enter the market. We feel that our vertically integrated strategy around hubs is unique and really separates us from the crowd."

Amuka Esports is currently looking at expanding to new hubs in Dallas, Atlanta and Orlando over the next year. 

For more information on Amuka Esports contact [email protected]

About Amuka Esports

Amuka Esports creates localized esports hubs in cities across North America. Each hub consists of a game venue, tournament organizer, content team, merchandise brands and incubator. 

Disclaimers

This press release contains "forward-looking statements" including statements with respect to Amuka Esports and its acquisitions. All forward-looking statements are based on current beliefs as well as various assumptions.  By their very nature, forward-looking statements involve inherent risks and uncertainties. Readers should not rely on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Amuka Esports

SOURCE Amuka Capital