Good news for Cairo-based esports team Anubis Gaming which has closed $300,000 seed round after raising $100,000 in fresh funds last month. With the latest investment, the startup now has $450,000 in total funding. The latest money came from a regional ecommerce group.
“In 2020 after winning more than 20 titles in our history, we’re officially invited to be a part of the Crossfire World League for a yearly prize of $100,000 leading to the CFS finals worth over $750,000,” founder, Youssef Mohsen said.
Here Is What You Need To Know
- The startup plans to use the latest investment to add to its international coaching staff, launch their apparel line, recruit more players to form new teams that will compete on different new fronts.
- The funds will also be used to move into a fully equipped gaming house and training facility that could host up to 15 players as residents.
- Anubis had won its first national championship for Counter-Strike and League of Legends in the first year of its operations.
- In 2016, it was recognized by Egypt’s Ministry of Youth and Sport as an official esports team and granted the rights to represent on both regional and international levels.
Anubis gaming funding Anubis gaming funding
A Look At What Anubis Does
Founded in 2015 by Youssef Mohsen, Anubis is an esports team that participates in competitive video game tournaments (for different game titles) at the regional and international levels. The startup said it is the current regional champions of Crossfire and are in the playoffs for the world championship, which it said, makes it the first team in the history of Africa to reach such a high placement.
Esports teams, just like the traditional sports teams, make money through sponsorships, media rights, merchandise, appearances, even influencer marketing, and prize money. They also have similarities with the traditional team in how they operate — including participating in competitions across the world, team management, and fan base.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer