Sportstech startup Game Theory has acquired sports analytics startup Matchday.ai for an undisclosed amount.
Founded in 2022 by Ganesh Yaparla and Harsha Vardhan Komanna, Matchday uses artificial intelligence (AI) to automate data collection in sports.
In a statement, Game Theory said the acquisition is aimed at strengthening its commitment to innovation in the sports gaming sector by bringing in the best-in-world technology to casual real sports.
Game Theory acquired the startup to leverage its tech stack, which employs computer vision and AI capabilities, already being used in pro-sports. This technology stack will shorten Game Theory’s time to market and bring in the key talent that built it from the ground up.
Commenting on the acquisition, Game Theory founder Sudeep Kulkarni said, “Game Theory will now bring this technology to everyday players. The sheer number of data points from actual gameplay that will now feed into this tech will be game-changing. This will also help us be able to deliver tech-enabled coaching, which was so far only for pro-sports.”
The acquisition will enable Game Theory to not just identify micro improvements for casual real sports players but also function as a tech-first scout for building India’s future athletes, he added.
Founded in 2018, Game Theory claims to be creating an ecosystem through its app, which facilitates seamless discovery of compatible players and enjoyable gaming experiences. Its user profiles showcase achievements, badges, trophies, and skill-based communities, enabling challenges, participation in amateur leagues, team formation, and the ability to spectate friends’ league matches.
It claims to use computer-vision data to help players track progress, provide deep stats, and offer personalised coaching.
The development comes just weeks after Game Theory raised $2 Mn in its pre-Series A funding round from Rainmatter, Rohan Bopanna, WEH Ventures, Prequate Advisory, and angel investors such as Balakrishna Adiga. Back then, it said that the funding would be used for technology development, to build skill-based matchmaking, establish coaching products, and expand the reach of smart sporting facilities across the country.
The global sports technology market in terms of revenue was estimated to be worth $21.9 Bn in 2022 and is poised to reach $41.8 Bn by 2027, growing at a CAGR of 13.8% from 2022 to 2027, according to a report.
The expansion of the sportstech sector can be ascribed to a rising emphasis on enhancing the fan experience at stadiums, performance of teams and players, and the increasing adoption of esports technology, the report added.
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