Game streaming and esports platform Rooter announced it had raised $25 million in funding led by Lightbox, March Gaming, and Duane Park Ventures, among others in a Series A funding round. Through this funding round, Rooter also facilitated the secondary sale for a few of its shareholders and an exit route for a few employees through ESOP buyback. Founded by Piyush Kumar and Dipesh Agarwal, Rooter has 8.5 million monthly active users and over 30 million downloads. Around 1 million users create gaming content on the Rooter platform monthly.
“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,” said Kumar. “Our community of streamers has been witnessing amazing engagement on our platform, which has allowed us to increase our revenues in the last six months. “Dipesh and I look forward to working with our supporters to make Rooter the largest gaming company in the country within the next two years.”
Rooter said that they are also planning to double its team size by hiring across divisions to add to its 55-member team based in New Delhi.
A&W Capital, a UK-based boutique investment bank, was the exclusive financial advisor and Delhi-based Ahlawat and Associates was Rooter’s legal counsel on this deal.
(All information was provided by Business Standard)