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Business News/ Companies / Start-ups/  Game Theory raises $2 million from Nithin Kamath’s Rainmatter, others
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Game Theory raises $2 million from Nithin Kamath’s Rainmatter, others

The company said the funds will be used to develop technology, build out skill-based matchmaking, create coaching products, and expand the company’s reach of ‘smart sporting facilities’

L-R Sukrut Gejji, COO, Sudeep Kulkarni, CEO, and Saket Gejji, CTOPremium
L-R Sukrut Gejji, COO, Sudeep Kulkarni, CEO, and Saket Gejji, CTO

New Delhi: Oodadu Technology Private Limited-owned Game Theory, a company that works in the domain of real sports has secured $2 million in a pre-series A funding round, led by investors like Nithin Kamath-owned Rainmatter; tennis player Rohan Bopanna and others. The round also includes investment from WEH Ventures, Prequate Advisory, and angel investors like Balakrishna Adiga.

The company said the funds will be used to develop technology, build out skill-based matchmaking, create coaching products, and expand the company’s reach of ‘smart sporting facilities’.

Prior to this funding round, it had raised approximately $500,000 from Techstars and other angel investors in the round.

The company’s founder, Sudeep Kulkarni said, “This funding milestone brings us one step closer to achieving that mission. Our technology will soon help people bring the joy of playing sports back into their lives." The investment from Rainmatter marks its first venture into the sports industry, he added.

It aims to expand its reach by increasing the number of centers. In addition to existing sports such as badminton, swimming, and squash, the company will look to introduce tennis, table tennis, and football to its list of offerings.

Kamath said: “One of the best ways to stay fit is to pick up and play a sport regularly. The problem is it’s hard to find locations to play regularly and match with similar skilled individuals. The company is solving this problem by making sports accessible to Indians."

Rohit Krishna, partner at WEH Ventures, added, “We believe the next large consumer brand will be built in the services segment and we are ecstatic to be backing the team to build the largest consumer sports brand in India."

Prequate Advisory also acted as the sole strategic and financial advisor to Game Theory on this transaction. Pradyumna Nag, partner at this company said that sports had consistently proven to be one of the most resilient sectors and the emerging trend of ‘play for fitness’ is here to stay.

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ABOUT THE AUTHOR
Varuni Khosla
Varuni is an Assistant Editor at Mint. She writes engaging and informative stories on luxury brands, hospitality news, business of sports, business of advertising and marketing, gaming, tourism and travel, and the business of alcohol. She is skilled in communication, research, and analysis. Varuni is passionate about covering the latest trends and developments in the lifestyle and business sectors.
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Published: 17 Oct 2023, 02:17 PM IST
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