Written by Dante Uzel on 23 September 2024 19:08
Nerd Street Gamers, has secured $6m in funding, with $5 million coming from Denver-based venture capital firm Konvoy Ventures. An additional $1 million will be contributed by strategic investors.
According to release, the company is advancing its plans to open a Localhost gaming venue at Albright College and is in discussions with multiple universities to establish high-end gaming facilities on their campuses. Additionally, Nerd Street has partnered with Temple University to support its esports program at Localhost Philadelphia and with Maryville University to run a youth summer camp esports program.
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Konvoy Ventures specializes in investments in emerging gaming platforms and technologies. In addition to Nerd Street, Konvoy has invested in several companies, including Ixana, Battle Road, and k-ID, and produces a quarterly report on venture capital trends in the gaming industry.
Josh Chapman, Managing Partner at Konvoy stated “Where others in the gaming venue space faltered, John and his team have shown a tenacity to push through the headwinds and pursue their vision. They have certainly found product-market fit and that's extremely evident, especially with their recent focus on building out gaming venues at universities. This expansion to universities will unlock immense growth not only for Nerd Street as a company, but for the entire competitive gaming and esports industry in the coming years. At Konvoy, we see how big this opportunity is and how Nerd Street's strategy is best positioned and perfectly timed — we believe in a future where Nerd Street has a presence on every campus, in every U.S. city, fueling the growth of esports and competitive gaming at a national scale."
Tags: Nerd Street
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