Spanish company GGTech Entertainment celebrates the closing of a $12.4 million investment to consolidate its international presence. This will drive its entry into the United States and expand its footprint across 16 countries on four continents.
Headquartered in Distrito Digital Comunidad Valenciana, the company received this capital injection from Glisco Partners and Heart Beat. The objective of this investment is to support GGTech in consolidating its presence in Europe, the Middle East, North Africa, and Latin America, as stated in a press release.
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Alfredo Castellanos, Managing Partner at Glisco Partners, explains:
Our investment in GGTech is part of our strategy to support highly disruptive companies in increasing their market share and entering the U.S. market. GGTech is particularly attractive due to its proven business model and its strategy of leveraging its content production studios in Mexico and Spain to serve the growing esports market in the United States.
José Parrilla, Co-founder and CEO of GGTech Entertainment, adds:
As a leading organizer of multilingual esports events and tournaments in Europe, MENA, and Latin America, we have full confidence in our growth prospects in the United States. Video games, especially esports, have been gaining popularity year after year, particularly in the United States, where over half of the population plays regularly. According to various international consulting studies, this trend is expected to consolidate and even increase in the next decade. Our goal is for GGTech to be part of that trend and strengthen its presence in these markets in the coming years. For this, we also have the support of major brands and publishers with whom we already maintain strong alliances to contribute to growth in the U.S. market. Additionally, we will be attentive to investment opportunities in the sector.
GGTech Entertainment offers a wide range of technological solutions to promote societal development and provide the best leisure, competition, and entertainment experience. The company has an international team of professionals focused on creating and operating products in the gaming-esports industry and is making significant progress in applied technology development.
What implications does it have for venture capital?
- Investment opportunity: The $12 million investment in GGTech demonstrates the company’s potential and promise in the gaming and esports market. This can attract the attention of venture capital firms seeking investment opportunities in this growing sector.
- International expansion: GGTech’s intention to expand to the United States and other international markets presents an interesting opportunity for venture capital firms seeking overseas investments. Expanding into new markets can mean greater growth potential and return on investment.
- Industry growth: Venture capital firms may see in GGTech a way to capitalize on this growth and participate in an evolving sector.
What implications does it have for esports startups in Latin America?
- Collaboration opportunities: The consolidation and expansion of GGTech in the international market can open new collaboration opportunities for esports startups. This may include strategic partnerships, sponsorships, or participation in events and tournaments organized by GGTech.
- Access to resources and technology: The investment received by GGTech can enable them to improve and develop their infrastructure, technology, and services. This could benefit esports startups by providing them with access to cutting-edge resources and technology that can help enhance their operations and deliver better experiences to players and viewers.
- Boost to the ecosystem: The growth and expansion of GGTech can have a positive effect on the overall esports startup ecosystem. As GGTech increases its presence and attracts more attention and investment, it can generate greater interest in the esports sector and open doors for other related startups.
To read the information in detail, visit: ESB
