Team Vitality raises $22.7 million to lift European esports

European esports organization Team Vitality has raised €20 million, or $22.7 million, in an investment from entrepreneur Tej Kohli.

Team Vitality said it believes the investment is the largest ever for a European esports team. The sector is hot now, as market researcher Newzoo expects the business of esports to reach $1.7 billion in revenue by 2021.