Indian gaming and streaming platform Rooter has successfully raised $16 million in a recent funding round led by Lightbox, a venture capital firm.
The financing round consists of both debt and equity financing and will be utilized to scale the company and enhance its technological capabilities.
Rooter is a highly popular gaming and streaming platform in India, aiming to create a mobile game-focused platform similar to Twitch. The funding round witnessed participation from existing investors such as Goal Ventures and Duane Park Ventures, as well as seven new investors including Trifecta Capital and Pivot Ventures.
The funds raised will be allocated towards strengthening Rooter’s technology capabilities, improving its product offerings, and enhancing the user experience on the platform. The company also plans to expand into new markets and explore cross-border growth opportunities, including potential strategic acquisitions.
Additionally, Rooter intends to deepen its collaboration with esports teams and organizations in India and work with technology partners to further scale its infrastructure. The platform is currently a partner of GodLike Esports, one of the largest esports teams in India.
Rooter envisions future expansion into regions with a significant number of mobile gamers, particularly in the MENA (Middle East and North Africa) and Southeast Asia regions.
Piyush Kumar, the Founder and CEO of Rooter, expressed his optimism about the funding, stating that the company’s user-centric and technology-driven approach has helped double its active user base and expand its market presence. He also highlighted the goal of achieving profitability by April 2024 and expects to surpass $10 million in Annual Recurring Revenue (ARR) by the next quarter. The funding will enable Rooter to further develop its technology framework and pursue both organic and inorganic growth opportunities.
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