STAN, a gaming platform based in Bengaluru, has successfully closed its Pre-Series A funding round, raising an impressive $2.7 million.
The funding round saw participation from key new investors such as Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and returning investor General Catalyst. Global interest in the Indian gaming industry is evident with additional support from CoinDCX Ventures, Climber Capital, TDV Partners, and Coinswitch Ventures.
Founded by Parth Chadha, STAN is committed to building engaged gaming communities globally and aims to provide the right infrastructure for sustained growth. With the newly secured funds, the company plans to democratize infrastructure for creators, leverage AI for community architecture development, facilitate user personalization, and collaborate with gaming legends.
STAN had previously raised $2.5 million in May 2022 as part of its seed funding, led by General Catalyst. The company has been recognized for its progress and growth since its offerings launched 1.5 years ago.
Parth Chadha highlights challenges in the Indian market for gaming creators to monetize from their followers, and STAN aims to address this by tapping into the creator supply, helping them grow their fanbase and monetize on the platform from day one.
STAN, positioned as the premier global gamers’ companion app, has already amassed over 4 million users within 1.5 years. Seventy-five percent of users are from broader Bharat, including tier 2 and tier 3 cities. The company is focused on deepening its presence in the Indian market, expanding to the subcontinent, and targeting 10 million users within the next 6 months.
STAN boasts impressive performance metrics, including 50 million annualized microtransactions and a remarkable 70% retention for paying users. The platform is highly rated, with a 4.6-star rating on the Google Play Store, consistently trending at #4 for the last 3 months.
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