Rooter, a game streaming and e-sports platform, has raised $25 million in a Series A funding round from Lightbox, March Gaming, and Duane Park Ventures.
9Unicorns,ADvantage, Capital-A, and Goal Ventures also participated in the round with existing investors, such asIeADSports & Health Tech Partners. Founded by Piyush Kumar and Dipesh Agarwal, Rooter has garnered 8.5 million monthly active users and over 30 million downloads. The company extensively covers games like BGMI, Free Fire,Valorant, and Call of Duty, among others, through its streamers and e-sports tournaments.
Around 1 million unique users create gaming content on the Rooter platform every month. The company aims to build a base of the next 500,000 professional game streamers through its gaming and e-sports platform. According to a report issued byRedSeerandLumikai, India is expected to be home to 700 million gamers by 2025.
“Rooter has been growing at a blistering pace over the last 18 months in tandem with the ballooning mobile gaming market in India, and this fresh infusion of funds by such marquee domestic and international investors only validates our work. Our community of streamers has beenwitnessingamazing engagement on our platform, which has allowed us to increase our revenues in the last six months,” saidPiyush, Founder, and CEO of Rooter.
SidTalwar, Partner atLightboxsaid, “Gaming is the future of social media for the next generation. 92% of Gen Z and millennials play games. And these ‘gamers’ are more engaged, more invested, and far more eager to contribute to gaming platforms than any traditional social media user today. Rooter is working to enhance the online experience of this community. And we’re excited to partner with them on this journey.”
Through this funding round, the company also facilitated the secondary sale for a few of its shareholders and an exit route for a few employees through ESOP buyback. Rooter is looking to almost double its team size by hiring across divisions to add to its existing 55-member team.
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