Mathew Cyriac invests $2 Mn in MyySports, joins as co-founder
Sports tech startup MyySports has raised $2 million in funding from Mathew Cyriac, founder of alternate asset management company Florintree Advisors. Cyriac, who has been an existing board member in the startup, is also joining the Delhi-based company as co-founder.
Founded by Saurav Banerjee, MyySports provides simple creator tools allowing millions of sports lovers to create, socialise and monetise their content. The startup has recently acquired a gaming company MyyHashstash.
Cyriac-led Florintree claims to have made over 30 investments over the past five years. MTAR Technologies and Data Patterns are in the list of its portfolio companies that have completed successful IPOs. Florintree also has fully exited three of its investments: CashE , PharmEasy and Wealthdesk.
According to data, 15 gaming startups have raised about $216.1 million in the first half of this year. Last year, the amount was $395.3 million across 13 deals in the gaming segment. With the Indian gaming industry playing host to over 400 startups, the sector has attracted investments from marquee investors such as Sequoia, Accel, Kalaari, Blume, Matrix, and Steadview among others.
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