Gaming Platform Rooter Raises $16 Mn In Funding
Rooter, a New Delhi-based startup game streaming and e-sports platform, has raised $16 million (Rs 131 crore) in a growth funding round led by existing investor Lightbox.
Trifecta Capital, Baldota Family Office, Global Play Media, Pivot Ventures, Denlow Private Trust, Venture Catalysts, and Potential Ventures also participated in the funding round. The round, which was a mix of debt and equity capital, also saw participation from existing investors Duane Park Ventures, Goal Ventures, LeAD Sports & Health Tech Partners, ADvantage VC, Capital A and Astarc Ventures.
As per the startup, the freshly raised funds will be used to develop its technology stack and expand its presence across Southeast Asia, the Middle East, and North Africa (MENA).
Rooter | Game Streaming And Esports Content Platform
Founded by Piyush Kumar and Dipesh Aggarwal in 2016, Rooter is a New Delhi-based game streaming and esports content platform focused on driving the creator economy in this segment.
The New Delhi-based startup claims to have onboarded one million gaming creators on its platform and has a user base of 60 million users.
Speaking about the development, Piyush Kumar, Founder and CEO of Rooter, said,
“We are expecting to cross $10 million in annual recurring revenue (ARR) by the next quarter and hit profitability by April 2024. Our current fundraise will allow us to develop our technology framework and pursue organic and inorganic growth opportunities.”
The New Delhi-based startup sits at the intersection of two of the largest macro-trends in entertainment – gaming and content, and it has created a community platform to bring together over 450 Mn gaming enthusiasts in the country. Its content library includes a mix of live streams, short-form content, and videos across 10 Indian languages.
Aiming to achieve profitability within a year, Rooter claims to have achieved 4x growth to $7 million in annual recurring revenue (ARR) at an 80% gross margin. In January 2022, Rooter raised $25 million (Rs 185 crore) in a Series A funding round led by Lightbox, March Gaming and Duane Park Ventures.
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