Game Theory, a company owned by Oodadu Technology Private Limited, has successfully secured $2 million in a pre-series A funding round. The primary investors leading this funding are Rainmatter, owned by Nithin Kamath, along with participation from tennis player Rohan Bopanna and others. Additional investments have been made by WEH Ventures, Prequate Advisory, and angel investor Balakrishna Adiga.
The company said that it will use the funds to develop technology, build out skill-based matchmaking, create coaching products, and expand the company’s reach of ‘smart sporting facilities’.
Before this round, Game Theory had already raised around $500,000 from Techstars and other angel investors. Rainmatter’s investment signifies their initial foray into the sports industry.
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.
Their objective is to expand by increasing the number of centers. In addition to the existing sports like badminton, swimming, and squash, the company plans 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 played a significant role as the exclusive strategic and financial advisor for Game Theory in this transaction. Pradyumna Nag, a partner at Prequate Advisory, stated that the sports sector has consistently proven to be one of the most resilient sectors, and the growing trend of ‘play for fitness’ is here to stay.
