New Delhi: Stan, a gaming startup based in Bengaluru, has successfully secured $2.7 million in a Pre-Series A funding round, with contributions from investors such as Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and returning investors including General Catalyst. This funding comes on the heels of their earlier $2.5 million seed funding in May 2022, which was led by General Catalyst and featured participation from Better Capital and Eximius Ventures.
Founded by Parth Chadha, Stan is dedicated to providing the essential infrastructure for creators to foster gaming communities. The newly acquired capital will be utilized to enhance this infrastructure, offering creators advanced tools to create and monetize their content. This includes features such as digital collectibles, chat and audio rooms, and exclusive celebrity communities.
The platform also has plans to collaborate with well-known gamers and esports figures to enhance user experiences. Currently, Stan has amassed around 4 million users, with 75% coming from tier 2 and tier 3 cities.
Parth Chadha expressed the company’s focus on addressing challenges in the Indian market for creators to monetize their content, aiming to tap into the creator supply and assist them in growing their fanbase and monetizing from the outset.
Anand Chandrasekaran, a partner at General Catalyst, expressed their excitement about the company’s progress and their commitment to supporting the expanding esports ecosystem in India.
According to a recent EY report, India stands as the second-largest online gaming market globally, boasting approximately 425 million gamers, trailing only behind China. The report predicts a rise in the percentage of paying gamers, projected to reach 34% by FY28. Notably, India’s top 10 gaming influencers wield significant influence, underscoring the immense potential and dynamic nature of the country’s online gaming sector.
