Digital football startup, supported by renowned football star, secures $3 million in funding
Digital football startup, supported by renowned football star, secures $3 million in funding
chandni
Melbourne-based fantasy sports startup, One Future Football (1FF), successfully raises $3 million in pre-seed funding to launch a global soccer league featuring 12 fantasy teams, including Sydney's Bondi One. The funding round was led by Blackbird Ventures, with strategic investments from renowned footballers Chris Smalling, Patrice Evra, Jesse Lingard, and UFC fighter Kamaru Usman.
1FF, which recently launched, offers 12 weekly matches in 2 rounds, showcasing 250 CGI-based players from 88 countries. The league aims to cater to Gen Z viewers with short attention spans and will be broadcast globally. The participating teams hail from London, Paris, Buenos Aires, LA, India, Indonesia, and Japan, with Bondi FC having ownership ties to tennis star Nick Kyrgios, cricketer Steve Smith, and AFL players Zac Merrett and Anthony McDonald-Tipunguti from the Essendon Bombers.
The startup's founders, Peter Davis (founder of AmpJar) and Rohit Bhargava (founder of StageLabel and host of the Startup Playbook podcast), drew inspiration from an article about the lack of fun clubs in America. They envisioned creating global clubs that compete in a league format, aiming to surpass the popularity of American counterparts.
"We are thrilled to introduce 1FF to the world and share the exciting details of the brands and athletes involved in 1FF and our teams!" expressed Davis. The 250 CGI players in the game possess unique characteristics, personalities, and backstories, adding depth and immersion to the experience.
Bhargava highlighted Hollywood's interest in the game, citing investments from Ryan Reynolds in Wrexham and Natalie Portman in Angel City FC. Notably, 1FF shares some investors with Angel City, which has achieved a valuation of $100 million in under three years.
"With over 25 years of passionate soccer fandom, we wanted to establish a deep connection and engage with the sport and teams we love, and that's exactly what we've built," Bhargava remarked. He further explained that 1FF offers a unique model, enabling fans to actively participate in shaping the career development and trajectory of their favorite teams and players.
The success of top esports companies, spending an average of $353 million and witnessing a 46% increase in investment by December 2020, indicates a growing interest in innovative sports ventures. Previously, FootballCom and JSW, two teams within the esports realm, attracted investments from various sports codes to launch their teams, underscoring the potential for further growth in the sector.
