Well-established UK-based esports brand Fnatic have secured $7 million in funding.
Fnatic founder Sam Mathews said: “We’re incredibly excited by the opportunities available within esports, and having world class investors and advisors only enhances our ability to address these opportunities and continue to innovate.
“There has been strong growth in esports, which has accelerated in recent years, but the major shift has been in the acceptance and inclusion by sports franchises, media companies and high profile individuals who have entered and advanced the industry rapidly.”
The investment will be used to boost Fnatic’s London HQ infrastructure including hiring new coaches, sports psychologists and academy teams, and adding facilities, according to the Esports Observer.
The new funding round has come from a variety of sources, such as AS Roma and Boston Celtics owners Raptor Group, CEO of Fractal Design Hannes Wallin, MIT Media Lab director Joi Ito and Hersh Interactive Group.
Esports Agency Code Red Esports said: “We’re proud to have helped in pushing investment towards Fnatic and wish them success”.
In February, Fnatic partnered with AS Roma for the football club’s FIFA team.
While many football clubs have been getting into esports over the past year, this was the first deal of its kind: the players represent the club, while Fnatic manages the team.
Last month, Fnatic signed a deal with Chinese esports agency B.O.O.T to expand further into Asia.
Dom is an award-winning writer who graduated from Bournemouth University with a 2:1 degree in Multi-Media Journalism in 2007.
As a long-time gamer having first picked up the NES controller in the late ’80s, he has written for a range of publications including GamesTM, Nintendo Official Magazine, industry publication MCV as well as Riot Games and others. He worked as head of content for the British Esports Association up until February 2021, when he stepped back to work full-time on Esports News UK and as an esports consultant helping brands and businesses better understand the industry.