eSports broadcaster Azubu has received 55 million euros ($59 million USD) in debt financing to help it build out its business and take on Twitch, reports VentureBeat.
Azubu, which, aside from broadcasting eSports competitions, is also creating a global eSports network to let professional players broadcast their gameplay to fans and spectators looking to pick up tips, will use the cash to gain even more ground and develop new products.
"The money will go to innovation around the platform, so we can provide the best user experience for broadcasters," said Azubu CEO Ian Sharpe speaking to VentureBeat, adding that the investment is "a vote of confidence not just in Azubu, but in all of eSports."
According to Sharpe, Azubu's viewership has increased by more than 1,200 percent over the past year, and the broadcaster is looking to use that momentum to close the gap on rivals such as Twitch and YouTube Gaming.
"We are developing our technology in direct collaboration with the community and brand partners in order to provide the best possible, and crucially, most monetizable streaming experience."
"We’re not interested in Pokemon. We’re not interested in Disney Infinity or Minecraft," said Sharpe. "Twitch is generic gaming, we are all about eSports."