LV Sands invests in German esports startup
Company scores $6.2m in funding, eyes US expansion.
Esports data hub Bayes Esports on Friday announced the closing of a financing round of €6m (US$6.2m), with integrated resorts developer/operator Las Vegas Sands serving as the lead investor.
Officials with the Berlin-based tech startup said the company cracked the run rate of €10m last year, and they expect this figure will be doubled in 2022.
In addition to Sands, Bayes Esports said BITKRAFT Ventures is involved in the financing round with its funding experts from the esports, gaming and sports industry.
As esports continues to grow, the company said the complex ecosystem within the industry requires a “collaborative and community-driven” approach, which allows for partners to innovate and sell together.
With the fresh money coming in, Bayes Esports noted it is looking to double its strategic partnerships and investments in product development with the help of 25 new hires.
In addition, COO and Managing Director Amir Mirzaee said an expansion into the United States and licensing as a betting supplier in the US and Europe are the company’s main focus points.
The 50 employees at Bayes Esports reportedly have built up an ecosystem of more than 150 customers from the betting, media and esports industry. The company’s proprietary global data platform, known as BEDEX, offers esports data to the market, serving clients such as Google and Bet365 with more than 10,000 live matches per year.
“We were looking for strategic investors who would work with us to professionalize the esports industry,” Bayes Esports CEO and Managing Director Martin Dachselt said in a statement. “Strong shareholders and sustainable growth are the basic requirements for an open ecosystem.”
Dachselt has more than 20 years of top-level management experience in tech startups, including as CTO of Delivery Hero and VP for Click & Buy.
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