leAD sports accelerator programme backs Rooter

leAD sports accelerator programme backs Rooter
Photo Credit: Photo Credit: Thinkstock
8 Aug, 2019

Sports engagement platform Rooter Sports Technologies has raised Rs 3.5 crore (about $495,337) from leAD sports accelerator programme, according to the company’s filings with the ministry of corporate affairs.

The company has issued 1,032 compulsorily convertible preference shares (CCPS) at a premium of Rs 34,492 per share, the filings showed.

leAD Sports is a Berlin-based venture capital and private equity firm. leAD sports accelerator programme is a joint venture between SPORT1 (a live sports platform in Germany) and leAD.

Rooter Sports Technologies had earlier raised Rs 4.5 crore (about $637,627) in a pre-Series A round in August 2018 from early-stage investment firm and incubator Venture Catalyst. 

The Delhi-based company had also raised Rs 1 crore ($140,320 then) from Hyderabad-based early-stage investment and scaling platform Anthill Ventures. 

Rooter is backed by actor Boman Irani and it raised an undisclosed amount in 2017 from mobile handset maker Intex Technologies’ early-stage fund.

Founded in 2016 by Piyush Kumar, Akshat Goel and Dipesh Agarwal, Rooter covers eight different sports with live scores, chats and commentaries, provides gamified prediction of a match as well as acts as a platform for sports fans.

The app, which is available for Android and iOS users, provides regional score-cards and a personalised social feed. Rooter claims to have connected more than 2.4 million sports fans through its app and web platform.

Similar deals in the space

July 2019: Mobile game developer Nazara Technologies invested $5.21 million (Rs 35.76 crore) in Bengaluru-based digital multi-sports content platform Sportskeeda. 

May 2019: Kabaddi-specific web portal KabaddiAdda raised Rs 1.5 crore in seed funding from early-stage venture capital firm Artha Venture Fund.

May 2019: Digital gaming startup Mobile Premier League (MPL) acquired Pune-based Crevise Technologies in a cash-and-stock deal.