Rheo raises $2 million in seed round from Lightspeed and Surge to drive professional game streaming in India

Rheo, an online e-sports streaming and community platform has raised $2 million in seed funding from Sequoia Capital India’s rapid scale-up program Surge, Lightspeed and marquee angels. Rheo’s mission is to build a highly entertaining ecosystem for mobile gamers: where fans can engage over gaming content, chat and forge communities with another and where streamers can easily create channels to monetize their passion for playing video games. Rheo is a game streaming platform founded by Saksham Keshri and Prakash Kumar. Rheo promotes professional game streaming and aims to make online gaming more entertaining and engaging. 

“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 monetization” said Saksham Keshri, Co-Founder & CEO of Rheo. 

Prakash and Sakham are second-time entrepreneurs. Prior to Rheo, they co-founded Mojo Times, a video news platform for independent journalists. Saksham has experience in building teams and products from scratch at hyper growth start-ups such as Unacademy and JioSaavn. Prakash was previously at Cuemath & Unacademy where he engineered video platforms that served millions of users. 

 Rheo’s platform is game agnostic, allowing more than 100 different games to be streamed on the platform till date – most popular titles include PUBG, Free Fire and Call of Duty. The company claims that within four months of launch, the platform has already attracted more than 5,000 streamers who generate more than 900 hours of live content every day in 5 regional languages. Rheo’s app has been downloaded by over 100k users. 

The app is currently available for android users and also allows users to earn Rheo Coins through various activities, which they can use to play with their favorite gamers and redeem it for virtual good items across multiple games. Additionally, Rheo hosts its own tournaments. These are invite only and geared towards engaging with and rewarding passionate, top gamers on the platform. 

Rheo TV also has a some prominent angel investors on board, including: 

● Gaurav Munjal, Hemesh Singh, Roman Saini, Dinesh Godara: Co-founders, Unacademy 

● Mahesh Narayanan: Ex-Linkedin Country manager, Ex-Google Mobile Country Head, Ex-MD Saavn 

● Anushray Gupta: CTO, Cuemath 

● Prashant Mallik – Advisor, Zomato. Inventor, Co-inventor, Cassandra DB 

● Ranjit Radhakrishnan: CPO, BYJUs 

● Phanindra Sama: Founder, RedBus 

Rheo is up against two giants on the game streaming platform Youtube and Twitch.

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