Sports collectibles and gaming platform BuyStars has raised $5 million in a pre-series A round led by Lumikai, a gaming and interactive media-focused fund. Existing investors Chiratae Ventures and Leo Capital also joined the round.
The funding will be allocated towards investing in growth and launching new games on the platform, the company said in a press release. To date, BuyStars has raised $9 million, which includes a $4 million raise from Chiratae and Leo Capital in December 2021.
Founded by Aman Satija and Sriram Krishnamoorthy, BuyStars offers multiple games like fantasy sports, player trading, trump cards, and more.
Since its launch in 2021, BuyStars claims to have boarded over 1.5 million registered users and a monthly GMV of over $1 million.
Lumikai backs some of India’s leading games companies including Bombay Play (building global hypersocial, cross-platform games), Loco (India’s leading game streaming platform), Elo Elo (creator-led, social gaming, live streaming platform), Studio Sirah (mid-core strategy gaming studio) amongst others.