In 2021 Bayes raised €10m in funding. It aims to raise up to €20m in 2022.
As well as Sands, venture capital company Bitkraft also contributed to the financing round.
With the money raised from this round, Bayes aims to hire 25 new employees to double its strategic partnerships and invest in product agreement.
“We were looking for strategic investors who would work with us to professionalise the esports industry,” said Martin Dachselt, CEO and managing director of Bayes Esports.
“Strong shareholders and sustainable growth are the basic requirements for an open ecosystem.”