French eSports data supplier PandaScore announced it completed a funding round to raise €5 million which will be directed towards team expansion in Paris and Malta and product portfolio enhancement. The funding was raised through a subsidiary of French gaming operator La Française des Jeux (FDJ).
V13 Invest, Alven, aXiomatic Gaming and KB Partners
Led by V13 Invest, an FDJ-owned subsidiary, managed by investment fund Serena, the funding round which started last month, included investors such as Alven, sports-tech KB Partners and aXiomatic Gaming, an owner and investor in eSports.
Alven is already having an investment in PandaScore, as in 2017 it retained a 23.5% stake of a seed round of $2.8 million it helped to raise, to send into another orbit the business set up in 2015 by esports enthusiasts Flavien Guillocheau and Jonathan Retterer.
V13 Invest was launched by FDJ in July 2019 as a vehicle to finance new start-ups. FDJ CEO Stephane Pallez noted by that time the €30 million fund was designed to improve the sector by enhancing certain business processes.
“The aim of this strategy is to accelerate the company’s in-depth transformation by infusing it with a digital culture and fostering a better anchoring in the innovation ecosystem.”
Stephane Pallez, CEO, FDJ
Utilizing Artificial Intelligence
PandaScore found its niche as a provider of real-time statistics for the eSports, collecting data from competitions utilizing artificial intelligence (AI). By interacting with the different participants within the ecosystem, the data supplier helps media follow live events, facilitate teams with analyses