STAN, a rapidly growing gaming platform based in Bengaluru, proudly announces the successful closure of its Pre-Series A funding round, raising an impressive $2.7 million. The funding round witnessed participation from key new investors, including Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, along with returning investors General Catalyst. The global interest in the Indian gaming industry was evident with additional support from CoinDCX Ventures, Climber Capital, TDV Partners, and Coinswitch Ventures.
Founded by Parth Chadha and his dynamic team, STAN is committed to building engaged communities of gaming enthusiasts globally, providing the right infrastructure for sustained growth. With the newly secured funds, the company aims to democratize infrastructure for creators, leverage AI for community architecture development, facilitate user personalization, and collaborate with gaming legends. Notably, STAN had previously raised $2.5 million in May 2022 as part of its seed funding, led by General Catalyst.
Parth Chadha, Co-founder of STAN, expressed the company’s vision, stating, “The Indian market today presents a lot of challenges for the creators to monetize from their followers and these creators have to move to multiple platforms to be able to learn and push for monetization. Stan intends to tap into the creator supply and help them grow their fanbase and monetize on Stan from Day 1. Stan has been working actively to help build the engaged gaming creator base in the country around common interests, and has tasted success with some of its creators participating in Big Boss 17!”
Anand Chandrasekaran, Partner at General Catalyst, commended STAN’s progress, saying, “We have been pleased with the progress and growth at STAN since their offerings launched 1.5 years back. General Catalyst is excited to continue to support the team.”
Akshat Rathee, Founding Investor in STAN, expressed excitement in welcoming new and returning investors and emphasized continued support for the venture in its next phase of growth.
STAN, the premier global gamers’ companion app, has amassed over 4 million users within 1.5 years, with 75% coming from broader Bharat, including tier 2 and tier 3 cities. The company’s focus is on deepening its presence in the Indian market, expanding to the subcontinent, and targeting 10 million users within the next 6 months. With 50 million annualized microtransactions and an impressive 70% retention for paying users, STAN is rated 4.6* on Google Play Store, consistently trending at #4 for the last 3 months.
