The parent company of Paytm, One97 Communications Ltd, has planned to invest a sum of INR 5 crore on the sports startup, Rooter Sports Technology as a part of a pre-Series A investment according to sources. Rooter Sports technologies is a fan-engagement platform and even Adidas-run LeAD sports accelerator and Anthill ventures are also throwing their hat into the ring.
About the company
Rooter Sports Technologies was founded in 2016 by Piyush and Dipesh Agarwal. It is a social community platform for sports lovers which allows the die-hard fans to receive access to carefully curated sports content.
It also allows the fans to stream their games live and it has also added the feature where you can connect with other gamers through voice or video. To date, Rooter has a user base of 5 million who spend a minimum of 24 minutes on their platform, per day.
The dynamics of the investment
This investment has been strategized in line with Paytm’s gaming-based arm, Paytm FirstGames. This arm was launched way back in January 2018 as a joint venture with a Chinese gaming company, AGTech. This arm was rebranded as FirstGames, last year.
This strategic investment has been made keeping in mind that many games under Paytm’s FirstGames involve fantasy strategizing, and with Rooter’s technology- gamers won’t have to refer to other third-party websites for statistics.
With the rise in the user base for Paytm games, One97 is aiming to invest in companies that will boost user accessibility and convenience. With Rooter’s ever-evolving platform, Paytm FirstGames will not only provide a solution where users can access statistics for fantasy strategizing games, but will also help Paytm observe user strategy patterns.
Download LegalEase APP Rooter Sports Paytm Paytm games Funding Sports startup Startup India Investment