Online e-sports streaming and community platform Rheo TV has now secured $2 million in the seed funding round led by the Sequoia Capital India, Lightspeed, and marquee angels.
“With this fundraise, Rheo is looking at product and content development and hiring new talent,” said Saksham Keshri, Co-founder and CEO, Rheo. The platform aims to build an entertaining ecosystem for mobile gamers, where fans can engage over gaming content, build communities, and chat with each other.
The startup was founded by Saksham and Prakash in 2019, who are second-time entrepreneurs. Prior to Rheo, they co-founded Mojo times, a video news platform for independent journalists.
According to the startup, its mission is to build a highly entertaining ecosystem for mobile gamers, where fans can engage over gaming content, chat and forge communities with one another, where streamers can easily create channels to monetize their passion for playing video games.
“Online gaming is rarely viewed as a platform that strengthens social engagement. At Rheo, we want to change that. Our mission is to redefine the gaming industry in India by using streaming channels as a way to create communities and encourage conversations – for both professional and hobby gamers. The ultimate goal is to make online gaming as entertaining and engaging as Cricket and Bollywood in India – with an added layer of monetisation.”