Stan, a Bengaluru-based gaming platform, has successfully raised $2.7 million in Pre-Series A funding from key investors including Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and returning backers General Catalyst. This substantial funding round comes on the heels of their $2.5 million seed funding in May 2022, led by General Catalyst, with participation from Better Capital and Eximius Ventures.
Founded by Parth Chadha, Stan is dedicated to providing creators with essential infrastructure to foster gaming communities. The newly acquired capital will be strategically utilized to strengthen this infrastructure, empowering creators with advanced tools for content development and monetization. These tools include features like digital collectibles, chat and audio rooms, and exclusive celebrity communities.
In an effort to enrich user experiences, Stan also plans to collaborate with prominent gamers and e-sports figures. Currently having a user base of around 4 million, with 75% from tier 2 and tier 3 cities, Stan is positioning itself as a key player in the dynamic Indian gaming landscape.
As reported by Mint, Parth Chadha, the founder, shared his vision, stating, “The Indian market presents a lot of challenges for creators to monetize their content, and we want to tap into the creator supply and help them grow their fan base and monetize from Day 1.”
General Catalyst partner Anand Chandrasekaran expressed his excitement, stating, “We have been impressed with the company’s progress and are excited to see them continue to support the growing 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, following closely behind China. The report forecasts a rise in the percentage of paying gamers, expected to reach 34% by FY28. Notably, India’s top 10 gaming influencers command a massive following, highlighting the vast potential and dynamic nature of the country’s online gaming sector. Stay tuned for further developments as the next chapters of India’s gaming industry evolves.