[Funding alert] Game streaming startup Rooter raises $25M in Series A

Games and e-sports streaming platform Inasmuch asRootInasmuch as raised $25 million in its Series A funding round led by Lightbox, March Gaming and Duane Park, as well as existing investors such as AD Sports and Health Tech Partners.

9Unicorns, ADvantage Sports Tech Fund, Capital-A and Goal Ventures also participated in the round, Rooter said.

The startup was able to facilitate a sale of secondary shares for a few of its investors via the funding round, as well as plotting an exit route for a few employees via the ESOP buyout. He plans to use the new funds to double the size of his team by hiring for various positions in Delhi.

Rooter said Your story that he hopes increase its ARR (Accounting Rate of Return) to $12-15 million by the end of 2022, from its current ARR of $2.5 million. The startup hopes to realize these gains through the substantial growth the gaming industry has seen over the past two years and is expected to reach nearly 700 million players over the next two to three years.

The founders of Rooter, Piyush Kumar and Dipesh Agarwal, said that with the online gaming and streaming industry becoming increasingly mobile, the startup hopes to see substantial and sustainable growth in the future, even if its user base of students and college students resumes his lessons.

Founded in 2016, Rooter began as a social network and online community for sports fans, similar to Fancred and Sports Cat in the United States, and FanCode in India.

Between 2016 and 2019, the Delhi-based startup tried and tested several products and features, and eventually became a one-stop destination for live sports content. Any user can go live during a match, conduct quizzes, live commentate, and share media posts using Rooter’s platform.

“The Indian gaming space has evolved from popular arcade games like Tekken and Street Fighter to competitive games like Battlegrounds Mobile and Freefire on smartphones. The sector is growing faster than most media sub-sectors like the home entertainment and audio, among others,” Piyush said. Your story.

“We are the only player in the market that has started monetization to open up all monetization opportunities including advertising and performance marketing,” he added.

Rooter pays players who are part of its creator program anywhere between Rs 5,000 to Rs 25 lakh, a month, to broadcast their gameplay on its platform.

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