Live sports social engagement app, Rooter, took a huge step in it’s journey when it raised Rs. 4.5 crore in pre-Series A round from a group of Indian and foreign investors, led by integrated incubator platform Venture Catalysts.
The investors at Venture Catalysts including Khalid Al Tawil, Anjali Malhotra from Aviva, Pranay Nigotiya, Vishal Agarwal, Nishil Agarwal, Tharun Dhariwal and Vivek Awasthi, took part in Rooter’s initial funding round.
The pre-series A funding round is set to help the app expand it’s market and base in the the GCC region, which encapsulates the region of Qatar, United Arab Emirates, Saudi Arabia, Oman, Kuwait and Bahrain.
India’s apex incubator for start-ups, Venture Catalysts, offers mentorship from a network of top executive officers (also known as CXOs), successful founders, tech product experts, along with funding – ranging from $500,000 to $1 million (₹3.5 crore to ₹7 crore) – to start-ups which have a promising potential to create value.
Speaking about how Rooter is inching closer to it’s vision of making a major impact on the global stage, the CEO and co-founder at Rooter, Piyush, said, “This is a precursor to a big Series A round, which we are going to raise on November 12 when we will pitch in front of over 50 investors at the Adidas family-backed 2018 leAD Sports Accelerator Program.”
“We have had the singular vision of transforming the sports engagement landscape of India. Since our early days, we have received tremendous support and guidance from the Venture Catalysts’ team on the best ways to achieve this vision. We are delighted that they have shown trust and faith in our business approach yet again.”
By the time the 2019 ICC World Cup approaches, Rooter aims to be a familiar name to all the fans who associate themselves with sports. Elaborating on it, Piyush commented, “We have to raise series A before the ICC cricket World Cup next year. That will allow us to be available in most of the cricketing nations.”
During it’s initial phase, Rooter had raised it’s first round of funding from a clutch of angel investors such as Bollywood actor Boman Irani, Dhruv Chitgopekar, Prantik Dasgupta, and the co-founder of digital agency Interactive Avenues, Anjali Hegde. A considerable amount of funding was also acquired from Intex Technologies in March of 2017.
The start-up was launched by Piyush and Akshat Goel (co-founder and CTO) in September of 2016 as the world’s first sports social gaming platform, that connects and engages sports fans during live matches. As of today, Rooter engages over half a million sports fans across eight sports – cricket, football, basketball, tennis, hockey, kabaddi, badminton and F1.