Gaming platform Rooter raised $16 million in fresh funds led by Mumbai-based VC firm Lightbox where Trifecta Capital, Pivot Ventures, Baldota Family Office, Global Play Media, Denlow Private Trust, Venture Catalysts, and Potential Ventures with existing investors Duane Park Ventures, LeAD Sports & Health Tech Partners, ADvantage VC, Goal Ventures, Capital A, and Astarc Ventures, among others, also participated.
The startup stated that it would use the new funds to strengthen its technological capabilities, sharpen its product portfolio, and improve user experience on the platform.
Router will also use the funds to acquire new businesses in the coming months in order to strengthen its position in the country.
Rooter is a platform for online esports streaming and content. It claims to have over 60 million users. Its library of content includes live streams, short-form content, and videos in ten Indian languages. Rooter is one of a few Indian startups that have managed to raise new funding in both 2022 and 2023, despite the ongoing funding winter. FanClash, Loco, Winzo, and Krafton are among the startups that it competes with.
Despite the fact that the country’s gaming industry is expected to reach $8.6 billion by FY27, according to Lumikai, the sector is currently beset by layoffs and mounting losses. Earlier this year, gaming unicorn MPL laid off over 100 employees and left Indonesia, while Sequoia-backed FanClash laid off more than 75% of its workforce after failing to secure a new funding round.
