Bengaluru-based gaming platform Stan has successfully raised $2.7 million in Pre-Series A funding. The investors include Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, General Catalyst, as well as returning investors. This funding follows the platform’s previous seed funding of $2.5 million in May 2022, led by General Catalyst and with participation from Better Capital and Eximius Ventures.
Stan, founded by Parth Chadha, is dedicated to providing gaming creators with the necessary infrastructure to cultivate gaming communities. The recently raised capital will be utilized to enhance this infrastructure, offering creators advanced tools to develop and monetize their content. These tools include digital collectibles, chat and audio rooms, and exclusive celebrity communities.
In addition, Stan plans to collaborate with prominent gamers and e-sports figures to enrich user experiences on the platform. Currently, the platform boasts approximately 4 million users, with a significant portion coming from tier 2 and tier 3 cities.
Parth Chadha, the founder of Stan, expressed his desire to tap into the creator supply in India and assist them in growing their fanbase and monetizing their content from day one. According to him, the Indian market poses challenges for creators to monetize their content, and Stan aims to address this issue.
Anand Chandrasekaran, partner at General Catalyst, commended Stan’s progress and expressed excitement about the platform’s support for the growing esports ecosystem in India.
India currently holds the position of the second-largest online gaming market globally, second only to China. With approximately 425 million gamers, the Indian market is expected to see an increase in the number of paying gamers, projected to reach 34% by FY28, as per a recent EY report. The report also highlights the massive following of India’s top 10 gaming influencers, indicating the vast potential and dynamic nature of the country’s online gaming sector.
Stan’s recent funding will undoubtedly contribute to the growth of the gaming industry in India and provide creators with the necessary tools and resources to thrive.
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