Funding Alert
Singapore startup Championfy raises seed funding round to foray into Web3 gaming
-
ByStartupStory | June 27, 2022
Championfy, a Singapore-headquartered gaming company, announced plans to foray into Web3 gaming after raising and completing undisclosed seed token sales to prominent Web3 investors.
Investors like Funfair ventures, XA network, Lucidblue ventures, Alphabit Fund, WhatToPlay, EnjinStarter, Thomas Gonzalez (CEO, Moralis Academy) and Chase Freo (CEO, OP Games) participated in the funding round.
Following this fundraising, Championfy will onboard a Web3-based offering to its content portfolio and will make the app global. Currently, the Championfy gaming app has a presence in selected countries in Southeast Asia like Singapore, Malaysia, the Philippines and Indonesia.
The company said that it will soon unveil a detailed roadmap to its community members. Funds will be used to expand the team and acquire more content & users.
“Whole gaming industry is on the cusp of global revolution now. Gaming in the next few years will be completely different from what it is now. With the adoption of Web3, we will be able to provide better opportunities to both game developers and gamers.” said Championfy co-founder Saurabh Sharma.
Championfy, which was started by Saurabh Sharma, an Ex-Grab executive and Zad Ngor, a seasoned marketing professional, had earlier raised an angel round from Malaysia-based investors.
Over the past few months, the competitive casual gaming space in Web3 is heating up with new startups like Ethlas, and Arc8 entering the space. Also, seasoned gaming companies like MPL, WInzo, and Rush gaming are adopting Web3 either through acquisition or directly setting up new teams.
Also Read
-
-
Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
Follow Startup Story
