SUMMARY
Game Theory raised $2 Mn in its pre-Series A funding round from Nithin Kamath’s Rainmatter, Rohan Bopanna, WEH Ventures, Prequate Advisory, and angel investors
The sportstech startup said it will use the fresh funding for technology development, to build skill-based matchmaking, establish coaching products, and expand the reach of smart sporting facilities
Founded in 2018, Game Theory is creating an ecosystem through a user-friendly app, facilitating the seamless discovery of compatible players and enjoyable gaming experiences
Sportstech startup Game Theory has raised $2 Mn in its pre-Series A funding round from Nithin Kamath’s Rainmatter, Rohan Bopanna, WEH Ventures, Prequate Advisory, and angel investors such as Balakrishna Adiga.
Game Theory said it will use the fresh funding for technology development, to build skill-based matchmaking, establish coaching products, and expand the reach of smart sporting facilities across the country.
“At Game Theory, our mission is to get people of all levels playing, by fostering a vibrant community that finds joy and camaraderie in sport. This funding milestone brings us one step closer to achieving that mission. Our technology will soon help people bring the “ultimate joy” of playing sports back into their lives,” Sudeep Kulkarni, founder of Game Theory, said.
Founded in 2018, Bengaluru-based Game Theory is creating an ecosystem through a user-friendly app, facilitating the seamless discovery of compatible players and enjoyable gaming experiences.
Game Theory’s user profiles showcase achievements, badges, trophies, and vibrant 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.
“One of the best ways to stay fit is to pick up and play a sport regularly. The problem is it is hard to find locations to play regularly and match with similar skilled individuals. Game Theory is solving this problem by making sports accessible to Indians. Given our mission at Rainmatter to help Indians make healthier choices, we are excited to join the Game Theory team in this journey,” Nithin Kamath, founder of Rainmatter, said.
Game Theory currently has five facilities in Bengaluru for games like badminton, swimming, and squash. Going ahead, it plans to set up facilities for tennis, table tennis, and football also.
Kulkarni stated that the fully-integrated technology platform, boasting several first-in-the-world innovations, would incorporate interactive elements, including real-time scorekeeping, captivating video highlights, and professional sports statistics, in addition to on-court matchmaking, to enhance the overall user experience.
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.
