Spanish organisation Vodafone Giants has closed its latest round of funding, raising EUR3 million (GBP2.7 million).
The investment comes solely from Sanchez Cozar Group, founded by Jose Antonio Sanchez Cozar.
RELATED: Luckbox looks to go public on TSX Venture Exchange
Vodafone Giants will use the funds to build its headquarters in its place of origin, Malaga, as well as to continue expanding internationally and “develop new products.” Cozar joins existing shareholders Gabriel Saenz de Buruaga, Alejandro Beltran, Luis Ferrandiz, and Lolito Fernandez.
Jose Ramon Diaz, CEO of Vodafone Giants, spoke on the investment in a release: “Closing the highest round ever carried out by an esports club in Spain confirms the good health of our company. The incorporation and trust of such an important partner reaffirms the growth it has experienced Giants in the last year. We will continue to lead the national esports industry and continue to evolve and innovate as an entertainment company.”
RELATED: BLAST raises EUR12.5M in funding round
The Spanish organisation has been active throughout 2020 so far, establishing partnerships with lollipop brand Chupa Chups, bottled water brand Font Vella, sportswear giant Nike, and football club Sevilla FC.
Cozar commented on the decision to invest in the organisation: “On the one hand, it is a unique opportunity to enter a sector with great potential in terms of growth and value creation next to the best possible partner. And, on the other hand, it is a strategic move for our work in the technological training sector.”
Esports Insider says: Vodafone Giants is undoubtedly establishing itself as a major player in Europe, with major partnerships – such as the naming rights deal with Vodafone and apparel deal with Nike – and significant funding. We looking forward to seeing the organisation level up with this investment.