UK Gambling Commission-licensed esports betting platform Midnite has announced the first closing of a $16m (£11.85m) series A funding round.
As part of the round, existing investors increased their investment in Midnite, with notable previous backers of Midnite including Makers Fund and Venrex.
The round was led by The Raine Group, a global merchant bank focused on technology, media and telecommunications. Raine co-founder and partner John Salter will join Midnite’s board of directors and MD Garrett Gomes will become a board observer.