Singapore based esports organization, Team Flash has announced that they have raised 1.5 million USD in what is their first official seed round. The round was led by a Singaporean company known as Octava.
Team Flash is a recognizable name in the SEA region, having fielded teams in titles such as Arena of Valor (AOV), PUBG Mobile, League of Legends and FIFA. It currently has 30 esport athletes and content creators under it’s banner, spread across Indonesia, Singapore and Vietnam. Till date, the organization has won 620,000 USD through its teams with their recent win at the AOV World Cup netting them 200,000 USD.
The money will go towards international expansion and expanding Team Flah’s markets within Vietnam. Along with recruiting players and content creators, the organization also plans to open a merchandizing division soon.
The following quotes were also included in the press release from Team Flash
Mr Terence Ting, CEO of Team Flash said: “With the rise of esports over the past decade, Southeast Asia has seen significant growth despite traditionally lagging behind our international counterparts due to a lack of capital investment and infrastructure. Our objective has always been to showcase talent from our region on the international stage and build a proper career path for our players.
“We are especially excited to announce the collaboration with this group of strategic investors who will greatly facilitate Team Flash’s sprint towards this vision to bring esports further into the mainstream. Our goal is to establish Team Flash as an international esports organization in the next 12 months, alongside our dedicated team members across the region,” added Ting.
Mr Tan Ting Yong, Investment Director at Octava said: “Southeast Asia has the fastest-growing esports demographic in the world and is at the cross-section of powerful trends like social connections and digital consumption of video. Looking ahead, we believe teams will benefit from the structural growth of esports into a fully-fledged professional sport. Team Flash is well-positioned in the region to do this, given their record of excellence and community outreach programmes.”