Bengaluru-based internet of things platform str8bat has secured an undisclosed amount in a bridge round from SucSeed Indovation Fund, Dholakia Ventures and other angel investors.
str8bat will use the fresh capital for product development, geographical expansion and growth.
Founded in 2017, str8bat's IoT and data science-based technology provides cricketers access to real-time, actionable insights by recording, analyzing and enhancing aspects of their game. It aims to onboard 3-4 million players using its IoT and data science-based technology in the next five years.
"The funding will help us grow in Australia and continue to build our momentum in India and keep us on track for the next major growth curve of the company," said Gagan Daga, founder and chief executive at str8bat.
"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 sport," said Vikrant Varshney co-founder and managing partner of SucSeed Indovation Fund.
India’s IoT sector has seen an upsurge in investment activities in the last couple of years.
Last month, Pune-based IoT startup ThingsUp raised $600,000 in a seed funding round from Silverneedle Ventures, Udyat Ventures, Lead Angels, GSF Accelerator and other angel investors.
In November, IoT-based logistics startup Intugine Technologies Pvt. Ltd secured a pre-series A funding of Rs 19 crore (around $2.2 million) led by Mela Ventures.