Bhavesh Talreja’s Globale Media, a mobile and web advertising company has begun its investment journey with Rooter, the gaming and e-sports content platform.
Rooter raised an investment of $16 million (Rs 131 crore) through debt and equity. The growth round led by Lightbox, also saw participation from Trifecta Capital, Pivot Ventures, Baldota Family Office, Denlow Private Trust, Venture Catalysts, and Potential Ventures.
“With an in-depth network in the gaming industry, it only made sense to invest in a gaming-focused startup when India is steadily witnessing growth in this sector,” said Globale Media in a statement.
The statement further read, “Rooter’s latest capital infusion, which closed on the back of a strong balance sheet, will provide additional fuel to accelerate the company’s growth plans.”
The company will be utilising the funds to strengthen its technology capabilities, sharpen its product bouquet, and further enhance user experience on its platform. It will also be pursuing market expansion and cross-border growth opportunities, including potential strategic acquisitions.
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Bhavesh Talreja
Talreja, Founder and CEO, Globale Media, said, “The esports and gaming community has been witnessing steady growth lately and will only see a positive trajectory in the coming future. Our aim is to work with Rooter on their monetization front through this investment, as Rooter is one of the biggest esports streaming platforms in India. We were also motivated by their plans of enhancing user experience, market expansion, and industry achievements.”
Piyush Kumar, Founder and CEO, Rooter, added, “We have always been closely associated with Globale Media over the years. So, when they expressed their interest in investing in our company, we were heartened by their confidence. Our current fundraising round will provide us with the impetus to further develop our technology framework and pursue organic and inorganic growth opportunities.”
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