Sajan Raj Kurup, chairman and founder of design solutions firm Creativeland Asia, on Thursday said he has acquired a 40% stake in gaming company Revenant Esports LLP for close to $1 million (Rs 7.4 crore).
Kurup said he expects Revenant to grow to a Rs 150 crore company in the next 12 months as the esports sector is becoming one of the fastest growing industries worldwide.
Revenant, which was launched last year, is a platform that seeks to partner esports athletes across the globe. It targets both casual gamers as well as pro gamers and aims to help brands use esports for advertising and brand building.
Rohit Naresh Jagasia, founder and CEO of Revenant, said the company will focus on growth through sponsorships, broadcasting, merchandise, tournaments and athlete management.
The statement noted that viewership of esports in India had doubled to 17 million in 2020 while the prize money pool grew 25-30%.
Creativeland Asia, founded by Kurup in 2007, offers design solutions for brands including Cinthol, Godrej Expert, Godrej Masterbrand, Indeed.com and Café Coffee Day.
In 2017, Kurup also founded Ventureland Asia, an early stage Rs 100 crore fund registered with the Securities and Exchange Board of India (SEBI). The fund invests in ecommerce, education, healthcare, agritech and esports.