Nithin Kamath-backed Game Theory acquires Matchday.ai to boost AI capabilities
This is the company's first acquisition since raising $2 million in a pre-Series A funding round led by Nithin Kamath's Rainmatter.
Nithin Kamath-backed sports gaming startup Game Theory has acquired Matchday.ai, a sports analytics startup.
The acquisition took place as of October 28, according to a statement shared by the company. It is expected to bolster Game Theory's artificial intelligence and computer vision capabilities.
The technology stack offered by Matchday.ai significantly shortens Game Theory's time to market and brings in key talent, said Game Theory.
This is Game Theory's first acquisition since raising $2 million in a pre-Series A funding round led by Nithin Kamath's Rainmatter. Founded in 2018, the sports and tech startup facilitates access to sports for its users through a video-game-like format. It aims to provide engaging and competitive real sports experiences to users.
With this acquisition, Game Theory will merge Matchday's technology into its next build, thus enhancing its matchmaking algorithms, said the company.
"Matchday has developed incredible computer vision technology. The world’s top athletes have used it to help improve their game. Game Theory will now bring this technology to everyday players," said Sudeep Kulkarni, Founder of Game Theory, in a statement.
"We can now not just identify micro improvements for casual real sports players but also function as a tech-first scout for building India’s future athletes," he added.
"This acquisition has immense significance in the largely untapped opportunity of using the current state of technology in real sports," said Rakesh Bordia, Partner at Prequate Advisory, who leads the M&A.
Prequate Advisory was the exclusive M&A advisor on the acquisition.
Edited by Swetha Kannan