Pixion Games, a London-based studio developing competitive e-sports games for mobile devices, closed a $2 million seed round that it will use to hire staff and boost so-called “lunchtime esports.”
The company is the latest player in the fast-growing mobile esports space, vying to make e-sports more accessible.
“What we see is a lack of services or a range of games providing an experience for the lapsed hardcore player or that casual player looking for a more core experience,” Kam Punia, founder and CEO of Pixion Games, told Karma. “We are uniquely positioned as professionals and ex-hardcore players to bring esports to everyone.”
Private equity firm Eldridge Industries led the round with participation from Jabre Capital Family Office and three unnamed angel investors. The company specializes in inclusive, easy-to-master multiplayer games that can be played in short sessions, which it refers to as “lunchtime e-sports.”
E-sports ad revenue is expected to exceed $200 million by 2020, according to eMarketer. present a lucrative path for advertisers to reach an audience, as they are accustomed to advertising through mobile games and applications. Pixion Games previously received an undisclosed amount of pre-seed and follow up funding from former executives of King, the maker of the popular mobile game “Candy Crush.”
- Pew Research Center estimates that more than 5 billion people around the world own mobile devices, over half of which are smartphones.
- Esports typically present cost and accessibility barriers to casual players, as most games are played on PC computers or gaming consoles, which can cost upwards of $1,000 and must be connected to larger immobile monitors.
- Mobile gaming still makes up 45% of the overall gaming market with revenues expected to top $68.5 billion in 2019, according to esports research firm Newzoo.
- Karma Take: Growth of mobile esports titles presents an opportunity for both amateur players and advertisers to tap into the booming esports market.