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- Rooter says the amount is the largest fund raise in India’s game streaming space
- App has been downloaded more than 30m times on Google Play Store
Indian video game streaming and esports platform Rooter has raised US$25 million in Series A funding.
The round was led by streaming platform Lightbox, investment firm Duane Park and March Gaming, a division of March Capital.
Rooter, which has been downloaded more than 30 million times on the Google Play Store, said the US$25 million was the largest fund raise to date in the game streaming space in India.
A&W Capital, a cross-border investment advisory firm focusing on the sports, gaming and digital media sectors, acted as the exclusive financial advisor to Rooter.
The investment comes as India continues to embrace gaming and esports. Mobile gaming is proving to be particularly popular, with the market set to be worth US$6 billion to US$7 billion by 2025, up from the current US$1.8 billion, according to a study by the Internet and Mobile Association of India (IAMAI), RedSeer and OnePlus.
Citing data from Sensor Tower, India’s Economic Times also said last October that the country is the world’s largest mobile gaming market in terms of app downloads, contributing up to 12 per cent of the global total.
“A&W leveraged its international network to onboard prominent gaming-focused investors such as US-based March Gaming – making their first investment in India,” said Piyush Kumar, chief executive of Rooter.
Matthew Wheeler, chief executive of A&W Capital, added: “Having looked at how this space has evolved in US and Europe, we are very bullish on the long-term growth potential of the Indian gaming industry.
“The strong investor interest that Rooter’s Series A fundraise has generated has further strengthened our conviction in this space.”
