ANI |
Updated: Jan 13, 2023 18:40 IST

New Delhi [India], January 13 (ANI/PNN): str8bat, a shopper tech firm in sports activities, targeted on offering actionable insights for gamers trying to higher their sport, introduced that it has secured an undisclosed quantity in a bridge spherical led by SucSEED Indovation Fund, Dholakia Ventures and different Angel buyers. SucSEED Indovation had additionally beforehand invested in str8bat. The freshly raised funds will probably be used to ramp up the go-to-market efforts internationally, gas product improvement, and speed up shopper and associate development. Globally the sports activities business is valued at USD 1.1 Trillion with cricket because the second largest participation sport on the earth. With 300+ million gamers enjoying cricket throughout the globe (ICC Report), str8bat is trying to disrupt a serviceable addressable market of roughly 50-60 million gamers in cricket alone. str8bat plans to maneuver to different sports activities within the coming yr and later targets to develop into a platform for sports activities movement seize options.
str8bat goals to have 3-4 million gamers utilizing its IoT and Data Science powered know-how over the following 5 years.
str8bat is a shopper tech firm in sports activities, that’s democratizing the utilization of know-how in sports activities by fixing essentially the most elementary drawback of the sports activities business – enabling gamers to play higher. The sports activities business wanted a foolproof mechanism of measurement to enhance the sport – which didn’t exist. This is the place the co-founders noticed a chance.
str8bat’s IoT and Data Science based mostly know-how offers budding {and professional} cricketers entry to real-time, actionable insights by recording, analyzing, and enhancing each facet of the sport and connecting them to the world’s greatest coaches. The str8bat sensor allows sporting tools to speak with coaches and gamers in a language they perceive. This is what made gamers of all ranges enthusiastic concerning the product. More than 6000 gamers have used str8bat together with skilled gamers from Rajasthan Royals, Cricket Australia who’re utilizing the str8bat sensor for participant coaching and improvement, profiling and acquisition.
Speaking on the funding spherical Gagan Daga, the Founder and CEO of str8bat shared, “We thank Sucseed and other investors who have re-invested in our business in this round, which shows the confidence they have in the team to execute on our blue ocean strategy, scale the new product category and change-the-game. The funding will help us in our continuous innovation journey and will help us grow into Australia and continue to build our momentum in India and keep us in track for the next major growth curve of the company through our 4 channel GTM strategy”

str8bat is backed by an array of business leaders and suggested by a reputable advisory board that features James Sutherland (Former CEO Cricket Australia and Current CEO Golf Australia), Greg Chappell (Cricket Legend), Scott Dinsdale (Former Accenture APAC MD and Techstars Mentor), Gilbert Rodrigues (Director, SiiX-AGT Medtech Pte Ltd), Rakesh Chhabra (Managing Partner AARC).
Last yr, the model launched its iconic B2C product, the str8bat cricket bat sensor, which is now accessible in 3 main cricket enjoying international locations of the world together with India, Australia & South Africa.
Recently, str8bat introduced a strategic partnership with Cricket Australia, the nationwide governing physique for the sport in Australia. Through this partnership, str8bat goals to deepen its presence and develop its person base by serving to skilled, aspiring and neighborhood cricketers leverage data-driven insights to enhance their sport.
Speaking on why they’ve invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, mentioned, “According to the Markets and Markets, the global sports technology market was valued at USD 17.9 billion in 2021 and is expected to reach USD 40.2 billion by 2026, at a CAGR of 17.5% between 2021 and 2026. In India, the sports and game analytics market is at a nascent stage. There is a huge market potential for cricket analytics products as Cricket is the second largest participating sports. str8bat has developed a cricket bat sensor which is an IoT device backed by AI and analytics that provides instant visual and actionable insights without cameras.”
SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with Rs100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative expertise inside know-how, fund administration, and start-up ecosystem and have already invested in 60+ startups. SIF makes an attempt to assist Indian Innovation for mass wants within the following Six (6) sectors – EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS and Gaming, SportsTech, MediaTech & Emerging Tech.
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