Entertainment, Investment, Venture Capital

Shenzhen Capital Group Leads $23M Series A Round In eSports Start-Up Wangyudashi

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Chinese eSports start-up Wangyudashi has completed a RMB150 million (US$23 million) series A round from Shenzhen Capital Group Co., Ltd and other unnamed investors, according to Chinese media reports.

The latest proceeds will be used in the development of eSports competition engines, the layout of eSports industrial chain and arrangement of nationwide eSports competitions including the China eSports Carnival.

"These eSports events held among the general public help the company find potential players or eSports stars,” Wang Xiaojun, a manager at Wangyudashi, said.

Qumi Network, a subsidiary of Wangyudashi, has cooperated with the Chongqing government to create an industrial incubator for eSports, which will focus on eSports training.

Wangyudashi, which operates wangyuhudong.com, is a specialized platform for internet cafe payment and eSports registry developed by Zhejiang Wangjing Network Technology Co., Ltd.

The company claims that the platform has already covered 30,000 Internet cafes in China with over ten million users and daily events of over 30.


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