January 13, 2022
Ahlawat & Associates’ Transactional Advisory Team (“A&A”) has advised Rooter Sports Technologies Private Limited, on its ‘Series A Investment’ round wherein the investment was led by Lightbox Ventures III, MCG II Investments LLC, and Duane Park Private Limited followed by investments from 9Unicorns Accelerator Fund I, Goal Ventures Partners I LLC, Advantage AIV India LP, Manjushree Capital Advisors, Beerbiceps Ventures LLP and various other Series A Angel Investors along with witnessing participation from Lead Sports Accelerator Management GMBH and various other existing shareholders. The deal value of the Series A Investment round amounted to approximately USD 25 Million.
Rooter Sports, with its registered office in Delhi, is engaged in the business of operating a gaming platform and, or a gaming content platform, including but not limited to a streaming platform for gamers around the world. Rooter has emerged as the largest player in the Indian games streaming category with 8.5 million monthly active users and over 30 million downloads, making it the #1 application in the ‘Sports’ category on Google Play Store since October 2020.
A&A has been associated with Rooter Sports since its inception and this deal marks A&A’s yet another accomplishment in executing and closing this momentous funding round for the Company. A&A Team assisted the Rooter Sports in due diligence conducted by the investors. Also, advised, drafted and negotiated the transaction documents for the deal.
Mr. Uday Singh Ahlawat, (Managing Partner) led the deal from A&A team and the team included Ms. Disha Toshniwal (Senior Associate), Ms. Shweta Singh (Company Secretary), Ms. Gitika Kohli (Company Secretary), Ms. Shramona Sarkar (Associate) and Mr. Sarthak Chawla (Associate).
Mr. Piyush, Founder and CEO of the Company commented: “The team at A&A have been our legal counsels since inception. They not only helped us set up the company but worked with us every day to bring Rooter to this stage. Uday particularly has been a mentor to me in this journey. And the rest of the team has worked meticulously over multiple rounds to ensure we are legally structured the best and compliant in every aspect.”
Mr. Uday Ahlawat, Managing Partner of A&A commented: “The current transaction was extremely challenging and exciting at the same time, since it required coordination and negotiation with all the investors and their legal teams. Being the company counsel, our focus was to ensure that everyone comes on the same page while ensuring the interest of the company, the new and existing investors and the founders, was protected. At the end, it’s an extremely proud moment for A&A since we have been associated with Rooter from day zero and have seen it reach this stage while being part of all the ups and downs associated with the growth of the Company.”
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