French eSports data supplier PandaScore announced it completed a funding round to raise €5 million which will be directed towards team expansion in Paris and Malta and product portfolio enhancement. The funding was raised through a subsidiary of French gaming operator La Française des Jeux (FDJ).
V13 Invest, Alven, aXiomatic Gaming and KB Partners
Led by V13 Invest, an FDJ-owned subsidiary, managed by investment fund Serena, the funding round which started last month, included investors such as Alven, sports-tech KB Partners and aXiomatic Gaming, an owner and investor in eSports.
Alven is already having an investment in PandaScore, as in 2017 it retained a 23.5% stake of a seed round of $2.8 million it helped to raise, to send into another orbit the business set up in 2015 by esports enthusiasts Flavien Guillocheau and Jonathan Retterer.
V13 Invest was launched by FDJ in July 2019 as a vehicle to finance new start-ups. FDJ CEO Stephane Pallez noted by that time the €30 million fund was designed to improve the sector by enhancing certain business processes.
“The aim of this strategy is to accelerate the company’s in-depth transformation by infusing it with a digital culture and fostering a better anchoring in the innovation ecosystem.”Stephane Pallez, CEO, FDJ
Utilizing Artificial Intelligence
PandaScore found its niche as a provider of real-time statistics for the eSports, collecting data from competitions utilizing artificial intelligence (AI). By interacting with the different participants within the ecosystem, the data supplier helps media follow live events, facilitate teams with analyses of their statistics and keeps tournament organizers updated regarding their competitions.
“The Covid-19 pandemic highlighted a significant lack of resilience among traditional bookmakers, who really need to increase their agility. This is where PandaScore can help. With FDJ, we are convinced that PandaScore’s tech is a key asset for bookmakers, enabling them to gain new market shares and more efficient and reliable services.”Olivier Martret, Principal, Serena
“Providing game-changing data for bookmakers is our way to fuel the growth of esports. When bookmakers can offer great esports betting it also helps in raising sponsorships for teams and tournaments.”Flavien Guillocheau, Founder and CEO, PandaScore
PandaScore utilizes a trend set up by a new generation which seeks entertainment in eSports and betting the way previous generations looked at traditional sports. The shift towards eSports has been further emphasized during the coronavirus restrictions and lockdowns which disrupted traditional sports around the globe, with no such effect on the simulated contests.