Unikrn announces USD 7M of new funding

Billionaire Mark Cuban, who is also a star of US television show Shark Tank, is the most high-profile of the investors and says he was enticed by the e-sports betting platform's growth and the rise of interest in eSports.

However, Jonathan Teo and Justin Caldbeck of Binary Capital are also interesting contributors having invested in the likes of Twitter, Snapchat and Instagram and previously been involved in Unikrn in an advisory capacity.

“Hundreds of companies every year try to get me to invest, whether on Shark Tank or off camera,” said Cuban.

“However, I only put my money and my name on the companies that I feel will be successful, truly advance an industry and have a leadership team that I respect. Unikrn fits all these requirements.

“As a sports fanatic and owner of the NBA’s Dallas Mavericks, I’m excited to be involved with a new sport just as it’s poised for huge growth.”

Other participating investors include Advancit Capital, Freelands Group, 500 Startups, Indicator Ventures and Tabcorp.

The company has now raised $10 million in total funding, with the fresh injection of cash to be spent on hiring and a marketing budget.

Unikrn is set to make major updates to its platform in July and will also launch a US-friendly version which will not allow real-money betting.

Unikrn co-founder and chief executive officer Rahul Sood added: “We’ve raised a total of $10 million now, and things are just blowing up. It’s been good, and we are in a great position.”