SoStronk announces funding from IP Ventures
Online gaming platform SoStronk has raised an undisclosed sum of money from IP Ventures in a funding round.
The capital will be used for research and development and to expand its team. It’ll focus on recruitment, marketing, QA, and development.
Tanmaya Vats, Investor at IP Ventures commented on the investment: “Esports is a very attractive segment with revenues already exceeding $1 billion. SoStronk is a platform created for gamers by gamers. More than half of 200 million+ esports enthusiasts are based in Asia and SoStronk has built a strong presence in the CSGO space here.”
SoStronk is an India-based startup, operated by Archetype Entertainment, which offers services for Counter-Strike: Global Offensive players and event organisers. It focuses on the esports markets in India and Southeast Asia.
Prashant Prabhakar, CEO & Co-founder of SoStronk had this to say: “We’re really excited to partner with IPV and will utilise the funds for R&D and growing the team, with a focus on marketing, development and QA.”
In May 2018, SoStronk entered a partnership with North America-based organisation OpTic Gaming and AFK Gaming to build a CS:GO team based in India. It was formed in June 2018, but the global initiative was scrapped months before Immortals Gaming Club acquired the organisation.