What is Zengaming?
Founded in 2015, Zengaming is dedicated to enhancing the experience for eSports enthusiasts and gamers worldwide. Its flagship product, Lootbear.com, operates as a unique virtual item marketplace, allowing users to rent in-game items for a monthly fee. This innovative model democratizes access to high-value virtual assets, eliminating the need for substantial upfront purchases by gamers. Since its launch, Lootbear.com has achieved remarkable traction, accumulating over 10 million hours of rented items and attracting hundreds of thousands of users, positioning it as a rapidly expanding marketplace within the gaming industry.
How much funding has Zengaming raised?
Zengaming has raised a total of $2.8M across 1 funding round:
Private Equity
$2.8M
Private Equity (2016): $2.8M with participation from The NFX, Crown Resorts, 500Startups, Foundation Capital, and iAngels
Key Investors in Zengaming
The NFX
The NFX is a venture capital firm known for investing in pre-seed and seed-stage startups, with a focus on transformative companies across sectors including gaming and marketplaces. They provide not only capital but also resources and a strong founder network.
Crown Resorts
Crown Resorts Limited is an Australian entertainment company with significant operations in integrated resorts, including gaming and hospitality. Their involvement suggests a strategic interest in the broader entertainment and digital asset landscape.
500Startups
500 Startups is a global venture capital firm that invests in a wide range of companies, known for its early-stage investment strategy and support for startups across various industries.
What's next for Zengaming?
The recent major strategic investment signals a pivotal phase for Zengaming, likely enabling the company to scale its operations, enhance its technological infrastructure, and broaden its market reach. With a focus on innovation in the virtual item rental space, Zengaming is poised to capitalize on the burgeoning eSports and gaming economy. Future developments may include expanding the catalog of rentable items, forging new partnerships within the gaming ecosystem, and potentially exploring new revenue streams or geographical markets. The company's ability to attract significant backing indicates strong investor confidence in its business model and future prospects.
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