STAN, a rapidly growing gaming platform headquartered in Bengaluru, has successfully concluded its Pre-Series A funding round, raising an impressive $2.7 million. The funding round attracted significant participation from both new and returning investors, showcasing global interest in the Indian gaming industry. STAN, founded by Parth Chadha, aims to build engaged gaming communities worldwide and utilize the funds to democratize infrastructure for creators, enhance community architecture with AI, facilitate user personalization, and collaborate with gaming legends.
Investors:
Key new investors in the Pre-Series A round include Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and support from returning investor General Catalyst. The global appeal of the Indian gaming market is evident in additional contributions from CoinDCX Ventures, Climber Capital, TDV Partners, and Coinswitch Ventures.
Company Vision:
STAN is committed to providing the right infrastructure for sustained growth and has a vision to address challenges faced by creators in the Indian market. The platform aims to empower creators to monetize from their followers seamlessly, consolidating the monetization process within STAN. Parth Chadha, Co-founder of STAN, expressed the company’s commitment to building an engaged gaming creator base in India and highlighted its success with creators participating in Big Boss 17.
Previous Funding and Progress:
This funding round follows STAN’s successful seed funding of $2.5 million in May 2022, led by General Catalyst. The platform has made significant strides, amassing over 4 million users within 1.5 years, with 75% of users coming from tier 2 and tier 3 cities in Bharat. STAN has achieved a noteworthy 70% retention rate for paying users and is consistently rated 4.6* on the Google Play Store, maintaining a top trending position for the last three months.
Future Plans:
With the newly secured funds, STAN aims to deepen its presence in the Indian market, expand to the subcontinent, and target 10 million users within the next six months. The company has recorded 50 million annualized microtransactions, showcasing its popularity among users. STAN’s focus on community engagement, infrastructure development, and strategic collaborations positions it as a key player in the rapidly evolving gaming landscape.
Investor and Founder Perspectives:
Anand Chandrasekaran, Partner at General Catalyst, expressed satisfaction with STAN’s progress, emphasizing the continued support from their end. Akshat Rathee, Founding Investor in STAN, expressed excitement in welcoming new and returning investors, highlighting their ongoing commitment to supporting STAN in its next phase of growth.
STAN’s successful Pre-Series A funding round not only reflects the platform’s growth and potential but also underscores the global interest in India’s vibrant gaming industry. With a solid foundation, strategic partnerships, and a clear vision, STAN is well-positioned to further enhance its offerings and play a pivotal role in shaping the future of gaming communities in India and beyond.