Esports Mogul is, as the name suggests, focused on e-sports. The company operates a platform for organizing e-sports competitions — called Mogul Arena — and a gaming news website. The firm is focused on Asia and Latin America and it went public in Australia via a reverse listing that raised it $7 million.
The new money will go towards developing Mogul Arena for mobile, and funding user acquisition and monetization pushes, Esports Mogul said.
Razer already works with Esports Mogul, and now this deal will increase the collaboration which will focus on integrating Razer’s payment system, which itself was created by the recent acquisition of MOL, according to both companies.
Others in the round include Singapore’s Cloud Alliance, which develops software systems for gamers. It recently raised $15 million from an ICO and it said it plans to work more closely with Esports Mogul and Razer going forward.
Esports Mogul said the round was over-subscribed, with existing investors and local Australian institutions also taking part. The deal is priced at AU$0.018 per share, which represents a 20.55 percent discount on the company’s volume-weighted average share price over the last 15 days. Esports Mogul shares were priced just below $0.002 when it joined the ASX in late 2016.
Note: The original version of this story has been updated to correct the share prices mentioned.