Rooter Raises Seed Round of Funding From Intex Technologies
Rooters plans to utilise the capital to strengthen its tech team, all the while maintaining a lean structure.
Rooter founder and CEO Piyush (L) and Keshav Bansal, Director of Intex Technologies (R). (Image: Rooter)
Rooter has raised an undisclosed amount of funds from Intex. The sports social engagement app earlier successfully raised funds from Dhruv Chitgopekar and Prantik Dasgupta along with the Bollywood star, Boman Irani, who invested in the firm as an angel investor.
Rooters plans to utilise the capital to strengthen its tech team, 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. This round of funding will, in addition, help accelerate the platform’s expansion into South East Asian markets and catalyse partnerships with sports teams and leagues all around the world. Rooter’s ambition to carry out merchandising activities and possibly fan-player interactions will also get a boost besides allowing it to leverage the tech infrastructure of Intex.
With the approaching sports season, Rooter hopes to exceed the 50000+ downloads it currently sits on and aims to cross half a million downloads by the end of the IPL. Rooter will benefit from the technological setup of Intex, access to which can help reduce Rooter’s R&D costs. The ready database of Intex will also help Rooter to find new users.
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 claims that the average time spent by a user on Rooter has gone up from 2-3 minutes in September last year to 13-15 minutes currently. The number of daily active users is also growing at a brisk pace, with Rooter looking to engage more than 20,000 daily active users by the time IPL starts.
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