Nithin Kamath Invests in Sportstech Start-up Game Theory The funds raised by Game Theory will be channeled towards continuing development of some of their first-in-the-world technology, and expanding the reach of smart sporting facilities across the country.
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Nithin Kamath on Tuesday invested in Sportstech start-up Game Theory via fund Rainmatter. The investment from Nithin Kamath's Rainmatter marks their first venture into the sports industry, highlighting Game Theory's potential to pioneer sports for health.
The $2 million raised by Game Theory in its Pre-Series A funding round also saw investments from other prominent names in the industry, including Rohan Bopanna, WEH Ventures, Prequate Advisory, and notable angels, including Balakrishna Adiga.
The funds raised will be channeled towards continuing development of some of their first-in-the-world technology, building out skill-based matchmaking, establishing coaching products, and expanding the reach of smart sporting facilities across the country. Game Theory's augmentation of technology that is integrated at the user and at the facility allows for increasing accessibility and stickiness in casual sports.
Expressing his excitement, Game Theory's Founder, Sudeep Kulkarni said, "At Game Theory, our mission is 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".
Nithin Kamath, Founder, Rainmatter, also reflected his perspective on Game Theory and their innovative approach and said he is excited to join Game Theory team: "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. 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."
Rohit Krishna, Partner, WEH Ventures, added, "We believe the next large consumer brand will be built in the services segment and we are ecstatic to be backing Sudeep & team to build the largest consumer sports brand in India. Sudeep is one of the most passionate founders I've met and he has a knack for understanding what consumers really want and then uses tech to provide delightful experiences."
Pradyumna Nag, Partner, Prequate Advisory, which acted as the sole strategic and financial advisor to Game Theory on this transaction, said, "Sports has consistently proven to be one of the most resilient sectors and the emerging trend of 'play for fitness' is here to stay. Game Theory is built on an exceptional business model that makes sports accessible without drastically changing the underlying infrastructure. The real breakthrough though, is how Game Theory was able to reframe players as 'users' - stemming from their personal experiences".
Prior to this funding round, Game Theory had raised approximately $500k from Techstars and other notable angel investors in its angel round.