Business briefs

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Stockal raises $3mn funding New Delhi, May 6 (PTI) Stockal, a platform that enables global investments for Indians, on Thursday said it has raised USD 3 million in funding from Aroa Ventures, Cadenza Capital Management, and others.

The pre-series A round saw participation from Aroa Ventures (OYO founder Ritesh Agarwal's family office), Cadenza Capital Management, Kristal.ai, Tracxn Labs, July Ventures, and Credence Family Office, a statement said.

The company has raised USD 5 million in funding since its launch in January last year.

'Stockal will use the funding to turbocharge its growth into new markets, starting from Indonesia in South East Asia,' it said.

**** One Digital Entertainment, Channel 2 Corporation invest in Digital 2 Sports Pte Ltd *One Digital Entertainment on Thursday said it has partnered with UAE-based broadcast company, Channel 2 Corporation to invest in Singapore-based interactive sports content company, Digital2 Sports Pte Ltd.

No financial details of the deal were disclosed.

This partnership marks One Digital Entertainment's new innings in the global sports investment ecosphere, a statement said.

As part of the deal, Digital2 Sports has secured exclusive audio rights for ICC's Tournaments including ICC Men's T20 World Cup 2021, ICC Men's Cricket World Cup – 2022 and 2023, ICC Women's T20 World Cup 2021, ICC Champions Trophy, ICC U19 Cricket World Cup 2022 for global territories, and Asia Cup 2022 and IPL 2020/2021-2022 for select markets, it added.

**** Sajan Raj Kurup acquires 40 pc stake in Revenant Esports * Sajan Raj Kurup, Chairman and founder of Creativeland Asia, has invested close to USD 1 million to pick up a 40 per cent stake in Revenant Esports.

Revenant Esports is currently home to over 25 Esports athletes including various popular mobile titles like Call of Duty Mobile: Multiplayer, Call of Duty Mobile: Battle Royale, PUBGM (Before the ban), Clash of Clans, and FreeFire.

The transaction will allow both companies to broaden their reach in the gaming community and promote the co-creation of unique experiences for consumers, a statement said on Thursday.

'With the E-sports sector becoming one the fastest growing industries globally, we are confident of growing to a Rs 150 crore company in the next 12 months. It's a world where we can pair the right message with the perfect idea, to a highly engaged audience - at the right time,' Kurup said. PTI SR SHW SHW