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Digital platform that connects, engages and helps sports audiences interact with each other on a real-time basis, Rooter on Tuesday announced raising of an undisclosed amount of funds from Intex, one of India's fastest growing consumer electronic goods and accessories manufacturer.
The sports social engagement app earlier successfully raised funds from Dhruv Chitgopekar and Prantik Dasgupta.
It also holds the distinction of being the first venture that Bollywood star, Boman Irani, has invested in as an angel investor.
The freshly infused capital will be utilized to strengthen the tech team at Rooter, all the while maintaining a lean structure. It aims to also add more numbers to its sales and marketing team as well as to the content division to bolster the vernacular versions of the app.
This round of funding will, in addition, help accelerate the platform's expansion into South East Asian markets and catalyze partnerships with sports teams and leagues all around the world. Rooter's ambition to carry out merchandizing activities and possibly fan-player interactions will also get a boost besides allowing it to leverage the superlative tech infrastructure of Intex.
"Rooter is essentially a tech-based platform and we wanted to have an investor on board who could also be our strategic partner and help us evolve our product to fully realize it's potential. Intex's deep understanding of the smartphone world and its popularity in Tier II and III cities of India will help us to promote and develop Rooter's unique idea further, optimizing it to perfectly fit the needs of smartphone users everywhere," said founder and CEO Rooter, Piyush.
Intex has had a thriving association with sports, and its director, Keshav Bansal, is the youngest franchise owner in the history of IPL. In January this year, Intex also owned the Gujarat Warriors in Super Fight League, foraying into the comparatively unknown world of MMA fighting in India.
"Rooter has a great fundamental idea, and its recent numbers suggest that its popularity is zooming by the day. As sports are an extremely emotion-driven phenomenon and the sports fan engagement platform is a completely uncharted territory, Rooter has limitless scope for growth. We feel this collaboration will be a perfect synergistic match and will enable sports' fans to enjoy their favorite games like never before," said spokesperson Intex, Keshav Bansal.
The deal was enabled by Kwan Entertainment and Marketing Solutions and Uday Ahlawat, Partner at Ahlawat and Associates, was the legal advisor for Rooter.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)