Funding Alert

Game Theory Secures $2 Million in Funding Led by Rainmatter

• ByStartupStory     |    October 17, 2023

Game Theory, owned by Oodadu Technology Private Limited, has successfully raised $2 million in a pre-Series A funding round, with notable investors including Rainmatter, led by Nithin Kamath, professional tennis player Rohan Bopanna, and others. The investment round also includes contributions from WEH Ventures, Prequate Advisory, and angel investor Balakrishna Adiga.

The funds obtained will be allocated towards the development of technology, the enhancement of skill-based matchmaking, the creation of coaching products, and the expansion of ‘smart sporting facilities.’

Before this funding round, Game Theory had raised approximately $500,000 from Techstars and other angel investors.

The company’s founder, Sudeep Kulkarni stated, “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.

Game Theory is aiming to broaden its reach by increasing the number of centers. In addition to the existing sports offerings, such as badminton, swimming, and squash, the company intends to introduce tennis, table tennis, and football to its list of services.

“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.”, said Kamath emphasizing the significance for regular sport participation.

Rohit Krishna, a partner at WEH Ventures, expressed their belief in the potential for building a significant consumer brand in the services segment, specifically in the field of consumer sports in India.

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Prequate Advisory played a pivotal role in this transaction, serving as the exclusive strategic and financial advisor to Game Theory. Pradyumna Nag, a partner at Prequate Advisory, emphasized the enduring resilience of the sports sector and underscored the enduring trend of “playing for fitness,” highlighting its enduring significance.

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