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XSET is announcing it has closed a $15 million funding round for its gaming and lifestyle brand.
The organization will use the capital to invest in new executive talent, marketing and content creation. The funding is led by LightWork Worldwide, a global streetwear and lifestyle brand holding company. LightWork Worldwide also recently backed streetwear brands like 424, Round Two, Psychworld, No Vacancy Inn and Supervsn.
“The gaming lifestyle market has tremendous potential globally, and we see XSET as the next big youth culture brand driven by a top notch team. Not only do they have many differentiating qualities from their competitors, they also completely align in terms of our strategic vision towards creating a formidable lifestyle brand that transcends markets,” said LightWork Worldwide’s Edward Zhou, in a statement to GamesBeat. “We are excited to partner with XSET as they continue to build a bridge between gaming, fashion and lifestyle. This will be a key strategic alliance as we will be actively engaging with the executive team to drive new revenue streams and to tap our strength and resources in investments, sourcing, development, licensing and stores activations as they continue to build what we have no doubt is going to become Gen Z’s defining gaming lifestyle brand.”
Happy anniversary, XSET
XSET itself is celebrating its 2nd anniversary. The company is both a gaming organization and lifestyle brand. It has esports athletes competing in over half a dozen games at the highest levels. Its flagship Valorant team, XSET Valorant, recently became the North American Champions in the Valorant Champions Tour.
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XSET has partnerships with Ghost Lifestyle, SCUF Gaming, Roots Canada, HyperX, Quality Control Music, Respawn, Fanshark and Wahlburgers. The organization also works with socially positive causes, including Big Brothers Big Sisters of America.
“XSET’s approach from the beginning has been to build a revenue and profit focused brand while still leaning into our values of diversity and inclusion,” said XSET Boss Greg Selkoe.
The funding round also includes a huge amount of other investors. Alpha Sigma Capital, Apex Capital Partners, Baron Davis Enterprises, Breakaway Ventures, Concept Art House, Gaingels, Gee Roberson Management, GuildFi, Quality Control, TheAlliance, Swae Lee, Mind Melt Media, Whitwell & Co, Worldwide Wes and Young Money all contributed.
Six NFL athletes also contributed to the round. Ezekiel Elliott, Justin Simons, Adrian Colbert, Alkho Witherspoon, Ndamukong Suh, and Kyle Van Noy all contributed as individuals.
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Author: Erron Kelly
Source: Venturebeat
