Sportstech startup MyySports has raised $2 million from alternate asset manager Florintree Advisors' founder and executive chairman, Mathew Cyriac.
Cyriac, who has been an existing board member in the startup, will join the New Delhi-based startup as co-founder.
MyySports was founded in 2021 by Saurav Banerjee, who was previously a partner at Kalaari Capital. The sportstech startup provides creator tools to allow sports lovers to create, socialize and monetize their content.
“India is at the cusp of a digital revolution with 1 billion smartphones in the hands of the people. MyySports enables capturing and socializing the sporting journey of sports enthusiasts. With its offering, MyySports captures the large sports community on its digital platform,” said Cyriac, who is also a former Blackstone executive.
Florintree Advisors has made over 30 investments over the past five years. These include two initial public offerings in listed Mtar Technologies and Data Patterns, and exits from three companies–Cashe, Pharmeasy and Wealthdesk.
Cyriac also has other investments in the sports sector. These include sport event management firm Procam International, fantasy sports gaming company Super Six Sports, sports-tech SFA Sporting Services and direct-to-consumer footwear brand Plaeup.
The startup had previously acquired a gaming company Hashstash, now called MyHashstash.
“I am happy to have Mathew as a co-founder. He is a prolific investor with an unbeatable track record and has over five investments in the Sports sector. MyySports will gain immensely from his vast experience,” Saurav Banerjee, Founder, MyySports, said.
