SportsTech Investment Summary

Startups Investment Recap – September 2

Hello HYPE readers!

Welcome to your bi-weekly recap where we come to you with all the green goodness in the startup investment sector. Let’s dive in.

TrueFan raised $4.3M in a seed funding round

Celebrity-fan engagement startup TrueFan raised $4.3M in a seed funding round. The round included participation from venture capital firms Mayfield India and Saama Capital, and from Ronnie Screwvala, media industry veteran and serial entrepreneur. TrueFan aspires to connect Indian fans with top celebrities through personalized, interactive experiences. The fan-engagement space is a growing segment in the Indian startup ecosystem, with a host of mobile applications vying for a piece of the pie.

BITKRAFT Ventures announced the close of their fund at €139.5 million

BITKRAFT Ventures, a venture capital fund focused on gaming, esports, and interactive media, announced the close of BITKRAFT Venture Fund I at around €139.5 million, above the initial €105.8 million targets. The firm is a global early and mid-stage investment platform for gaming, esports and interactive media. So far, the BITKRAFT Ventures platform has received backing from a broad, global investor base, including Carolwood, Declaration Partners, JS Capital, as well as corporate investors such as Adidas, WPP, Advance, and Logitech.

Challengermode closed a financing round of $12M

Esports platform Challengermode, which allows players to find, create, and compete in grassroots and pro-level tournaments, has successfully closed an external financing round of $12M. The round of funding was led by eWTP Innovation Fund, the global investment arm of the Alibaba Group, with other investors including Telia Ventures, GP Bullhound, Back in Black Capital, and Swedish soccer legend Zlatan Ibrahimovic. The funding will be used by Challengermode to pursue expansion in the United States and further advance the technology behind the platform. 

Ben Simmons has joined FaZe Clan’s Series B funding round

Esports company FaZe Clan announced today that two-time NBA All-Star Ben Simmons has joined a Series B funding round that has yet to close. The Philadelphia 76ers star is the latest basketball player to invest in FaZe Clan, following the New Orleans Pelicans’ Josh Hart, the Miami Heat’s Meyers Leonard, and the Denver Nuggets’ Jamal Murray. FaZe Clan was ranked by Forbes in November as the fourth-most-valuable esports company. The terms of Simmons’ investment were not disclosed.

Fanspole raised pre-seed funding from Better Capital

Mumbai-based sports social fantasy gaming platform Fanspole announced raising a pre-seed funding round led by Better Capital and the launch of its fantasy sports app. The startup will utilize fresh funding for further product development and boost marketing. Fanspole currently supports major sports and esports including cricket, Football, PubG, Call of Duty, Free Fire with many more coming soon. The app is designed with the aim that users can create contests with their own rules and play with their friends, fans, and followers.

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    Jun 29, 2024

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  • Feb 28, 2024

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