The news of Delhi-based startup Rooter Secures $8.5M in Funding from the Economic Times has been widely welcomed by the startup and tech ecosystem in India. This latest round of investment from the Times Group is a testament to the growing importance of the startup space and the increased opportunities for funding in this sector.
Started in 2018 by Ankit Lakhani and Naman Sharma, Rooter is a sports gamification and engagement platform that allows users to compete with each other in real-time through live tournaments and leagues. It also has a wide range of engagement tools that allow users to engage with each other and compete in an interactive, virtual environment.
This is the latest round of funding for the company. Earlier, it had secured a Series A round of funding from the Emergent Ventures India Fund and a Series B round of investment from the World Bank Group. The total amount of funding now stands at $14.5M.
This funding comes at a critical time for Rooter, as the company is in the process of expanding its presence in other cities across India. With the extra funds, it plans on consolidating its services in existing markets and expanding to new markets.
The investment from the Economic Times also allows the platform to grow its userbase, develop new tools, create new content, and employ even more people to its team. This will be crucial for the company’s growth in the coming years and the success of its upcoming projects and initiatives.
The funding from the Economic Times is a big milestone for Rooter and a testament to the progress that the startup has made in just two years. We congratulate them for their success and wish them all the best for the future!
Economic Times Invests in Delhi Roots with $8.5M for Rooter
It is with great pleasure that the Economic Times announces their latest investment in Delhi Roots with their latest round of funding worth $8.5M. Delhi Roots is a mobile gaming platform that has quickly gained a significant following in India.
The investment will be used to support Delhi Roots’ efforts to create a platform that encourages healthy competition across India and provides users with an engaging experience. Their mission is to make it easy for youth from across the country to connect and engage in competitive sports while promoting a health lifestyle.
The Economic Times has always been committed to the development of the country and its citizens. By investing in Delhi Roots, they are taking the opportunity to support an innovative and promising venture that has already made a substantial impact in India and continues to grow at a substantial rate.
When asked about the investment, Economic Times CEO Sanchit Sarin said: “We are very excited to be investing in Delhi Roots and contributing to the success of this venture. We believe that this platform has tremendous potential to help India’s youth become more engaged in health activities and spur economic growth in the country.”
We are looking forward to seeing how this investment helps Delhi Roots grow and how it contributes to the development of the youth in India who use the platform. Congrats to the entire team at Delhi Roots and the Economic Times on this exciting development!
Economic Times Injects Capital Into Delhi Startup Rooter with $8.5M Investment
In a major move to bolster the startup ecosystem in India, the Economic Times recently announced an investment of US$8.5 million into Delhi-based sports engagement startup Rooter. This is the first such investment made by the business publication and aims to help the company expand its presence in the sports engagement market.
Rooter, which was founded in 2016, is a mobile platform that allows users to follow their favourite teams, players, and sports. It also enables users to make predictions, enter contests, and interact with other sports fans in real-time.
The injection of capital from the Economic Times will help Rooter to further build on its current services and venture into new opportunities. For instance, the startup is looking to expand its engagement with professional and semi-professional teams, as well as create new content and update its app with market-specific features. Additionally, the company plans to use the funds to build new user acquisition strategies and gain more customers.
The announcement is seen as a positive move for the Indian startup ecosystem, as more businesses are receiving the exposure and investments they need to succeed. It is expected that the investment from the Economic Times will help to create better opportunities for sports engagement startups in the country and will encourage more businesses to launch in the future.
Overall, Rooter’s injection of capital from Economic Times is a great addition to the startup scene and is sure to speed its progress in the sports engagement space. It will surely be exciting to see where the company goes from here and what kind of innovations it will bring to the table.