The Indian esports and gaming content material platform Rooter has introduced an a brand new spherical of funding, backed by enterprise capital agency Lightbox, valued at $16 million.
The funding spherical, which consists of a mixture of mortgage and fairness capital, can be used to increase the enterprise’s technological capabilities. Aiming to offer a platform just like Twitch however for cell video games, Rooter is likely one of the most well-known streaming and gaming platforms in India.
Seven new traders, together with Trifecta Capital, Pivot Ventures, and others, joined former traders, resembling Aim Ventures and Duane Park Ventures, within the newest financing spherical.
Rooter states that the agency would make the most of the cash to enhance buyer expertise on its platform, enhance its vary of products, and enhance its capabilities in expertise. Moreover, it will likely be on the lookout for methods of rising globally and in new markets, together with potential strategic acquisitions.
Moreover, the cash can be utilized to work along with Indian esports groups and organizations together with technological companions that may help Rooter’s infrastructure develop. Rooter is a associate of GodLike Esports, one in all India’s main esports groups.
In response to a press launch, Rooter will doubtless take into account different nations within the MENA and Southeast Asia areas which have a major variety of cell avid gamers sooner or later, including that these two areas are vital targets for potential enlargement.
Rooter’s founder and CEO, Piyush Kumar, shared his ideas on the funding:
Our user-centric, tech-driven method has helped us double our energetic consumer base and scale our market footprint with out compromising on sustainability. With greater than a adequate runway, we predict to cross $10m ARR by the subsequent quarter and hit profitability by April 2024. Our present fundraising will present us with the impetus to additional develop our expertise framework and pursue natural and inorganic progress alternatives.
Piyush Kumar, CEO of Rooter