May 26, 2020
We are pleased to announce that our client, Delhi-based live sports engagement platform Rooter has raised a pre-Series A round of $1.7 million. Ahlawat& Associates acted as the legal counsel for Rooter Sports Technologies Private Limited which was led by its Managing Partner Uday Singh Ahlawat, along with Senior Associate Sheena Ogra and, Associates GitikaKohli and Disha Toshniwal.
The key investors in this round include PayTM which was represented by its in-house legal team and SAM, leAD Sports – Adidas Family-backed fund which was also represented by Ahlawat& Associates, Rockstud Capital represented by Khaitan& Co., and Founder Bank Capital – an early-stage arm of RB Investments.
As part of the deal, Rooter is also entering into a strategic partnership with Paytm First Games where both companies will collaborate to grow cricket, fantasy sports, e-sports and gaming ecosystem. Existing backers Anthill Ventures, Venture Catalysts and other angel investors also participated in this round.
Ahlawat& Associates had represented Rooter Tech in all the previous funding rounds as well with Anthill Ventures, startup accelerator and incubator Venture Catalysts and from the likes of renowned Bollywood star Boman Irani, celebrity management professional DhruvChitgopekar and corporate professional PrantikDasgupta.
Rooter which was set up by Piyush and DipeshAgarwal in 2016 said it will use the capital to grow its user base and capitalize on its upcoming e-sports and gaming content communities. It will also launch user monetization channels, which will add to its advertising revenue.
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