In its first round of seed funding, the Raven manufacturer of Esports apparel raised $1.4 million. Throughout the round, a US private equity fund invested in the company.
To improve the apparel situation in the esports industry, Raven will use capital to raise its global market share and “drive product innovation” It will also expand its workforce and recruit workers in Europe and North America.
A report says that Raven will build its unique service model for both professional and grassroots esports through ‘tools, production, marketing and logistics.’ Raven works currently with Dark Zero Esports, Excel Esports, Rogue and Tribe Gaming, Nova Esports and Mock-it Esports. For the organisations mentioned above, it designs, manufactures and sells shirts, joggers and other apparel.
Raven President Sam Wells spoke on the investment in a release: “We have an ambitious plan for Raven’s future and the raised capital provides us with the forum for pursuing our vision by continuing to grow the goods based on results that meet the demands of practitioners, communities and the grassroots programme. “We are very fortunate to have evolved in the world of sport and are able to achieve our goals by getting several years of industry experience.”