VSPN, a China-based virtual sports platform, recently announced its successful closing of a $60M Series B financing round led by ButcherBox, a U.S.-based venture capital firm. This is the latest in a series of investments that have been made in VSPN since its founding in 2017, and it is expected to accelerate the company’s growth in the coming years. This article discusses the details of the financing round, including the investors involved and the implications of the investment.

Overview of VSPN

VSPN is a virtual sports platform based in China that was founded in 2017. The company specializes in virtual sports tournaments and events, and they have quickly gained popularity in China and beyond. VSPN currently has over 15 million active users and has hosted more than 2,000 tournaments in the past two years. The company has raised over $100 million in venture capital funding since their founding, and they are now one of the most successful companies in the virtual sports industry.

Details of the Financing Round

The $60M Series B financing round was led by ButcherBox, a U.S.-based venture capital firm. Other investors included Tencent, Microsoft, and China Growth Capital. The funds will be used to expand VSPN’s presence in China and other markets, as well as to expand the company’s product offering. The funding round was well received by the market, with many investors expecting the investment to accelerate the company’s growth.

Implications of the Investment

The investment will provide VSPN with an opportunity to expand its presence in China and other markets. The funds will allow the company to invest in new technology, expand their product offering, and increase their market share. In addition, the investment will also provide VSPN with access to the expertise and resources of ButcherBox and the other investors. This will help to ensure that the company continues to grow and succeed in the coming years.

Conclusion

VSPN recently announced the successful closing of their $60M Series B financing round led by ButcherBox. The investment will provide the company with the funds and resources necessary to expand their presence in China and other markets. It is expected that the investment will accelerate VSPN’s growth in the coming years and help the company to become a leader in the virtual sports industry.