SucSEED Angel Network invests into Str8bat SPORTS TECH SOLUTIONS PTE LTD, a Singapore registered firm, to expand its horizon into Sports & Analytics Platform. SucSEED invests in Str8bat through this Pre-Series A round, whereas several marquee individual Angel investors had invested earlier, such as Prof. Padmanabhan (INSEAD), Prof. Sameer Hasija (INSEAD), Samit Shetty (Ex-CEO of Chaitanya India Micro Finance) and Gilbert Rodrigues (Director, SiiX-AGT Medtech Pte Ltd).
Str8bat’s IoT based technology gives real-time actionable insights to budding and professional cricket batters by recording, analysing and enhancing every aspect of batting, while connecting them to world’s best coaches and their peers. Str8bat is backed by some of the stalwarts of the industry and is advised by a very credible Advisory team which comprises of people like James Sutherland (Former CEO Cricket Australia and Current CEO Golf Australia), Greg Chappell (Cricket Legend), Scott Dinsdale (Former Accenture APAC MD and Techstars Mentor), Gilbert Rodrigues (Director, SiiX-AGT Medtech Pte Ltd), Rakesh Chhabra (Managing Partner AARC).
With customers like Cricket Australia, Rajasthan Royals, many cricket academies and clubs, it is already helping 2000+ players get better, with 20% of them playing at the pro level. And that has helped them accelerate their B2C outreach. With ~20,000 pre-orders already in the pipeline, Str8bat is well positioned to be a true Game Changer. Their patented technology, influencer driven Go-To-Market approach, structured approach to product-market fit and extraordinary B2C demand generation attracted the investors to invest in this high growth company. This round, led by SucSEED Angel Network, has helped this Bangalore-based sports tech firm to start fulfilling ~20,000 pre-orders they’ve received from cricket lovers, professionals and clubs world-wide. Str8bat’s palpably humbled CEO Gagan Daga enthused that it’s a testament to the huge untapped market, the product-market fit which Str8bat has established, the patented tech and the rock-star team that has allowed this ‘bat whisperer’ technology to get here. “We’re extremely grateful, and despite the challenges raised by the pandemic, this is a giant leap in our goal of reaching 5 million players, who play the sport with the sole dream of playing better,” Gagan said.
Speaking on why they have invested in Str8bat, Vikrant Varshney, Cofounder & Managing Partner of SucSEED, said, “300 Million players above 16 yrs age, play the game of cricket, with 20 Million season ball & bats are getting manufactured in India every year. Smart Sport Equipment are growing by 51% CAGR, so Sports Technology is completely an untapped and virgin market for India as there are no solution for the mass segment and we wanted to support Str8bat, which is also led by experienced founders.” Speaking on why is he backing Str8bat, Mridumesh Rai , an Angel Investor with SucSEED, said, “With an enriched career in consumer Sector, I assess the start-up with my first question ‘Is there a large enough existing consumer problem that it’s solving’. Having a physical product gives it a high degree of entry barrier over competition. Their institutional tie-ups and expert endorsement is testimony to the Product Market Fit. The clarity and focus of founders is reflected in their choice of Cricket as a starting sport because of its scale and complexity. What further makes it promising is their ability to expand to other ball based sports and graduating from product to a platform based coaching solution provider. Exciting times ahead.”
Anand Agarwal, an active Angel Investor with SucSEED and a seasoned Tech professional, said, “Str8bat has disrupted the learning process for cricket across multiple countries with simple to use device and application. I firmly believe this platform has potential to bring cricket coaches and enthusiasts together which can enable young cricketers to seek expert advice from world’s best experts. Data Analytics platform may have future role in team selection as well as how cricket viewers perceive cricket players.” SucSEED Angel Network has invested in around 40 startups in last 3.5 years and has seen 4 exits in last 12 months with 2 of them currently work in progress.
About Str8bat SPORTS TECH SOLUTIONS PTE LTD
Str8bat was started in 2017 by Gagan Daga and Rahul Nagar, with a vision to help sports’ players across the spectrum (Elite to Amateur) Play Better. Problem(s) that they are addressing: Since the inception of the sport, players have not got any aid which can help them improve their game, which can be used by ANYONE, AT ANYPLACE AND AT ANYTIME. The founders firmly believe that “what you cannot measure you cannot improve”. A player just puts an IoT Sticker at the back of the bat and plays. He/she can get objective insights into their game. Str8bat’s technology captures motion without cameras. IOT and AI based Simple to Use solution which gives Instant Data and insights on your mobile.
About SucSEED Angel Network
SucSEED Angel Network (SAN), founded in early 2017, is one of the fastest growing Angel Network, with a combination of CXO level Corporate Professionals, Technology Angels, Business Leaders and Serial Entrepreneurs, who have come together to fuel the growth of Indian Startup System at early stage, with provision of growth capital, organizing access to market and Business mentoring. SucSEED’s Investment focus is primarily targeted at Growth stage in post revenue startups involved with Use cases around real problem statements and solving them using emerging Technology. SucSEED has been investing in diverse domains as listed below, but also open to support wider innovation and businesses.