Bengaluru-based sportstech startup Game Theory has raised $2 million or Rs 16.6 crore in a pre-Series A funding round led by Zerodha co-founder Nithin Kamath’s Rainmatter, Tennis player Rohan Bopanna, WEH Ventures, and Prequate Advisory.
This is Rainmatter's first venture into the sports industry. The investment comes after Zerodha allocated an additional capital of Rs 1,000 crore towards its startup accelerator fund Rainmatter.
Rainmatter was launched in 2016 with a focus on backing emerging Indian fintech startups. It's worth mentioning that the profits from the investments go back to entrepreneurs and the Rainmatter Foundation.
The raised funds will be utilized towards continuing development of some of their first-in-the-world technology, building out skill-based matchmaking, establishing coaching products, and expanding the reach of smart sporting facilities across the country.
Prior to this funding round, Game Theory had raised approx. $500k from Techstars and other notable angel investors in its angel round.
Founded in 2018 by Sudeep Kulkarni, The sports tech startup provides interactive features like real-time scorekeeping, video highlights, pro sports like stats, and on-court matchmaking to enhance the overall experience for users.
Game Theory aims to expand its reach by increasing the number of centers. In addition to existing sports such as badminton, swimming, and squash, the startup plans to introduce tennis, table tennis, and football.