Delhi-based sports engagement platform Rooter has raised ₹1 crore ($142,857) from Anthill Ventures along with its network of investors. The three-year-old startup is a part of the Anthill Studio Accelerator Program under which the accelerator helps Rooter to connect with corporate giants to venture into international markets.
The startup plans to use the freshly raised capital to boost its growth in India and expand its footprint to European countries. Furthermore, it aims to expand its client base to B2B customers by focusing on the growth of its social feed. Rooter is aiming to penetrate into tier II and tier III market through its vernacular mobile app, regional score-cards and personalised social feed.
Founded by Akshat Goel, Piyush Kumar and Dipesh Agarwal, the startup offers live fantasy game, live match prediction and peer-to-peer engagement by integrating technology and social gaming. Rooter has already connected 24 lakh fans across cricket, hockey, tennis, basketball, kabaddi, badminton and football.
Earlier in August 2018, the startup raised ₹4.5 crores in pre-series A round of funding from angel investors like Vivek Awasthi, Vishal Agarwal, Tharun Dhariwal, Pranay Nigotiya, Nishil Agarwal, Khalid AlTawil and Anjali Malhotra. Rooter also counts Intex Technologies and Bollywood actor Boman Irani as its investors.
The startup is planning to raise Series A round before the ICC Cricket World Cup 2019. In the latest completed financial year, the startup clocked operating revenue of ₹13.17 lakhs. However, the expenses jumped to ₹3.12 crores and the losses increased 2.3X to ₹2 crore from ₹86.62 lakhs in FY17.