With rapidly increasing popularity of the gaming sector, popular esports and video game streaming platform Rooter have bagged $16 million in growth round headed by Lightbox.
Apart from the existing investors, the company also saw participation of Trifecta Capital, Pivot Ventures, Baldota Family Office, Global Play Media, Denlow Private Trust, Venture Catalysts, and Potential Ventures.
The company plans to utilize the funds expanding to international markets with CEO and founder, Piyush Kumar saying, “Our current fundraise will provide us with the impetus to further develop our technology framework and pursue organic and inorganic growth opportunities.”
As of now, Rooter provides a full online live stream and video platform and have popular content creators like Jonathan Gaming and Lokesh Gamer along with Esports teams like GodLike and Team OG.
With over 60 million registered users the company is expecting to reach over $10 million ARR by the next quarter and profitability by April 2024, according to moneycontrol.
Rooter is currently looking to grow their community and cater to gaming market similar to India with focus on mobile gaming. The company is further planning to expand across Southeast Asia and MENA region.
The company further plans to support the content creator ecosystem in India by collaborating with esports teams, gaming content creators, and brands. The main goal of the company is to become the largest mobile game streaming platform in the world similar to platform like Twitch for PC and console gaming.
We are confident of the ecosystem, says Sid Talwar
Speaking about Rooter, Sid Talwar, partner, Lightbox said, “We are confident of the ecosystem they are building around game streaming and esports and look forward to supporting them in their mission to become the largest mobile-based gaming content and streaming platform in the world.”
Rooter also hosted India’s biggest eWorld Cup tournament last year throughout October 16 to November 13 to bring together all fans of cricket in India and featured a prize pool of Rs 10 lakh.