Noida-based OneTo11 on Monday announced that it has raised USD 2.5 million in its private and seed funding round. The investment round was led by a wide selection of investment and capital groups and global blockchain investors like Jason Stone and Carl Runefelt.
“The company plans to utilise the acquired funds in its global expansion by entering into new markets, such as the Middle East, Europe and North America. “It also plans to introduce high-quality games to its gaming ecosystem, designed specifically to match the demands of gamers from these different nationalities,” the company said in a statement.
Founded in 2020, OneTo11’s seed funding was backed by prominent institutional names, including Oracles Investment Group, Maximus Capital, GDA Capital, Magnus Capital, NFT Technologies, Dutch Crypto Investors, Oracles Investment Group, International Blockchain Consulting, Jason Stone and Carl Runefelt. “With the investment being raised, we are all set to go into the next stage of aggressive expansion and explore further possibilities of bringing play-to-earn gaming to everyone.
“The funding will greatly help us venture into the global market with top quality games and a more comprehensive gaming economy,” OneTo11 Chief Executive Officer Ravindra Kumar said. OneTo11 plans to add football, basketball, baseball and field hockey as fantasy sports to accommodate its global pool of gamers. Besides this, it will add American football as a strategic move to align with the North American market, the statement said.
Within a year of launching, OneTo11 acquired a user base of over two million registered users and facilitated 18 million transactions in the 15 months since the launch in October 2020. “In addition, the company will be launching the first public sale of their 1TO11 governance token and the NFT (non-fungible token) marketplace in the upcoming months,” the statement said.
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