eGoGames raised €3 million from angel investors.
eGoGames, a Madrid, Spain-based startup operating a mobile e-sports platform allowing users to make money by betting on games outcome, announced the completion of a €3 million ($3.3M) capital investment round.
The money was provided by three individual investors: Donato González (president of Société Générale Group), Francisco Riberas (president of Gestamp) and Jaime Martín Laborda (CEO of Millenial Gaming).
Money will be used to optimize the company's algorithm with the use of Artificial Intelligence, in order to create competitions that have the ability to adapt to the player and improve their user experience and focus their efforts on the B2B business.
eGoGames, founded in 2017 by Alejandro Sáez and Baldomero Sánchez, built an esports platform for mobile devices that offers any user the possibility of competing for free, for prizes or professionally for money, making mobile gamers athletes of esports. The platform is available for 10 games and uses a patented algorithm for matching gamers according to their ability and ensuring matched competitions.
Prior to this round, in 2018, eGoGames raised €300k ($350k) from private investors from Spain, including Pedro Serrahíma and Francisco Riberas.