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Nerd Street Gamers raises $6m in funding round

Nice console games September 23, 2024 blog, Business, funding, Nerd Street Gamers

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Nerd
Street
Gamers
has
raised
$6
million
in
a
funding
round.

As
reported
by

Esports
Insider,
the
investment
was
led
by
capital
firm
Konvoy
Ventures
which
provided
$5
million
of
the
funding.
The
other
$1
million
was
sourced
from
“strategic
investors.”

The
esports
infrastructure
company
will
use
the
money
raised
to
grow
its
LAN
gaming
center
chain
Localhost,
which
has
venues
across
the
United
States.

Nerd
Street
Gamers
plans
to
open
new
collegiate
locations,
including
partnerships
with
Temple
University
where
it
will
host
an
esports
programme
and
Maryville
University
to
run
a
youth
summer
camp.

“We
couldn’t
have
asked
for
a
better
partner
in
Konvoy
given
their
experience,
network,
and
most
importantly
their
passion
for
the
industry,”
said
Nerd
Street
Gamers
founder
and
CEO
John
Fazio.
“Together,
we’re
going
to
build
something
that
amplifies
the
entire
industry.”

Last
week,

Digiday
reported
that
following
financial
troubles
last
year,
Nerd
Street
Gamers
took
out
a
loan
from
Riot
Games
“to
compensate
players
and
talent”
which
the
company
has
since
paid
off.