Eksab, an Egyptian startup in esports, raised $3 million through a seed round

Eksab is a daily fantasy football site based in Cairo. It has raised $3 million through a seed round led by 4DX Ventures. Darwazah Capital, Golden Palm Investments and P1 Ventures were also involved. There are also a few strategic angel investors in the local and international sports and entertainment industry. 

Eksab was created in Egypt in 2018 to promote football participation and entertainment through online communities and gaming. 

Free or premium competitions are available to players. Players can make predictions and pick line-ups. The leaderboard will be topped by the top scorers who will win cash and prizes. 

“As we look to expand our platform to new audiences, we’re in the midst of an incredibly high growth era in our business.” We’re also very happy to have some of the world’s most prestigious investors and partners participate in this round. Eksab’s previous investors have all reinvested in it, which is a testament to the hard work and potential of the sector. We envision Eksab as being at the vanguard of the digital transformation of football, content, community, and gaming across Africa and the Middle East, with the growth of Web3 and play-to-earn gaming,” Eksab Founder and CEO Aly Mahmoud stated. 

Eksab currently has more than 700,000 members in Egypt who participate in fantasy and prediction tournaments.

Eksab is actively building features to link with prominent blockchain-based platforms as it invests more in its technology, allowing football fans to benefit from Web 3.0’s increased speed and transparency. 

This round increases Eksab’s total funding to $3.7 million, which it will utilize to expand its user base across MENA and Africa, engage in product development, hire engineering and product talent, and form collaborations with a number of top global football clubs.

Get latest news from African Startup ecosystem

Latest stories

You might also like...