Startups Investment Recap – April 14
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.
Teamworks Raises a Series C Round of $25 Million
Teamworks, the leading athlete engagement platform for collegiate and professional organizations, announced it has raised $25 million in Series C funding. The round was led by Delta-v Capita and includes participation from new investors Afia Capital, a private investment platform backed by professional athletes, and Stadia Ventures. The investment brings Teamworks’ total funding to more than $45 million, with previous rounds led by General Catalyst and Seaport Capital. The latest round of financing will allow Teamworks to continue its momentum and global growth after partnering with organizations from four continents over the last year, adding to the more than 3,000 teams worldwide.
Vicis assets sold for $2.85M to Innovatus Capital Partners
Vicis, a high-tech football helmet maker based out of Seattle, had its assets purchased out of receivership after a downfall in the past year, which left it out of cash and no longer in business. Innovatus Capital Partners paid $2.85 million for Vicis’ assets with plans to form a new company and revive the failed startup’s helmet technology. The purchase follows an $18 million investment Innovatus made in October, in Schutt, one of the leading U.S. football helmet manufacturers based in Litchfield, Illinois, and a Vicis rival. Before the company’s financial troubles, Vicis repeatedly placed first in the NFL’s helmet safety test and discussed plans to build helmets for other sports.
Halaplay has raised INR 2.94 Cr from Gaussian Networks and Nazara Technologies
Gaussian Networks and Nazara Technologies invested INR 2.94 Cr in Halaplay. Halaplay is an online platform which mainly caters to Cricket, Football and Kabaddi fans,allowing users to create a team, enter leagues and win cash prizes. With no matches available for users to participate, fantasy sports platforms like Halaplay have to sustain a few months without any income, which is always difficult as a young startup. However, with this funding from Nazara, who has already backed Halaplay in multiple funding rounds, and Gaussian Networks, the startup might be able to survive through this tough period.
Advance To Acquire The IRONMAN Group From Wanda Sports Group
Advance announced that it has entered into a definitive stock purchase agreement with Wanda Sports Group Company Limited to acquire The IRONMAN Group in an all-cash transaction. The IRONMAN Group and its portfolio of assets makes up the largest mass participation sports platform in the world. As a part of the deal, Orkila Capital will co-invest in The IRONMAN Group and Jesse Du Bey, Managing Partner of Orkila, will rejoin its Board of Directors alongside Advance and Andrew Messick, President and CEO of The IRONMAN Group.
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