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XSET announces 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 financing is led by LightWork Worldwide, a global holding company for streetwear and lifestyle brands. LightWork Worldwide has also recently supported streetwear brands such as 424, Round Two, Psychworld, No Vacancy Inn and Supervsn.
“There is huge potential in the gaming lifestyle market globally and we see XSET as the next big youth culture brand, led by a top-notch team. Not only do they have many differentiating features from the competition, but they are also completely aligned with our strategic vision to create a powerful lifestyle brand that transcends markets,” LightWork Worldwide’s Edward Zhou said in a statement to GamesBeat. “We are excited to partner with XSET, as they continue to build the bridge between gaming, fashion and lifestyle, this will be a key strategic alliance as we actively work with the executive team to drive new revenue streams and leverage our strength and resources in investment, acquisition, development, licensing and store activation as they continue to build , which we have no doubt will become the defining gaming lifestyle brand for Gen Z.
Happy anniversary, XSET
XSET itself is celebrating its 2nd anniversary. The company is both a gaming organization and a lifestyle brand. To see also : MLB praises CBD sponsorship as an important change for sports leagues. It features esports athletes competing in over half a dozen top-level games. Its flagship Valorant team, XSET Valorant, was recently crowned North American Champion at the Valorant Champions Tour.
XSET partners 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.
“From the beginning, XSET’s approach has been to build a brand focused on revenue and profit, while building on our values of diversity and inclusion,” said Greg Selkoe, XSET CEO.
There are also a huge number of other investors in the funding round. 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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