Adi Dassler Family-owned Sports Tech Fund – ADvantage – has picked up fan engagement app Rooter under its accelerator programme, as the leAD Sports co-owned series-A fund targets more Indian start-ups for investment opportunities.
Mumbai-born entrepreneur Sandy Agarwal’s Tappp is among the India sports tech start-ups to receive $10 million investments from fund ADvantage, which has also picked up Rooter for its accelerator programme, according to report by the business daily Economic Times.
“We will be visiting Indian fan engagement start-up for the accelerator programme, in February next year,” leAD Sports CEO Christoph Sonnen has told ET assistant editor Gaurav Laghate.
“India is a huge sports market which goes far beyond cricket. As sports continue to gain space in the country, new opportunities in the ecosystem arise. We want to leverage the momentum and continue to nurture early-stage start-ups that can disrupt the mobile, tech-focused market,” added Sonnen, who also spearheads lead accelerator programme.
The fund is focusing on the India market as it has received the majority of funding applications from here.
“We have just started the second batch of our accelerator programme for pre-seed and seed funding. Between first and second batch we received 350 applications from Indian sports tech start-up owners alone. This year we have picked up nine out of 600 applications for programme, which has only one Indian company Rooter,” Sonnen is reported as saying.
leAD Sports is a sports entrepreneurship and investment platform run by the Adi Dassler Family Office (ADFO), and global hybrid venture capital platform OurCrowd.