Kero nets m seed funding to accelerate its TikTok for betting vision
Kero Gaming has closed an oversubscribed ‘seed-2’ funding round, raising capital of $2m to develop its portfolio of ‘contextual in-game micro betting innovations’.
The seed round was led by Malta-based VC fund and accelerator Happyhour.io, who backed the Toronto start-ups vision to “create Tik-Tok betting experiences for modern sports audiences”.
Founded in 2020 by sportstech entrepreneur Tomash Devenishek, Kero’s prospects ride high, as this September, the start-up won the inaugural SBC Summit Barcelona First Pitch competition, winning a €50,000 mentor package provided by Yolo Investments.
Devenishek praised Kero’s year-2 progress, in which the company accelerated its mission to deliver “new products to engage users through real-time, contextual micro bets, delivered via algorithms built in-house”.
“Modern-day consumers don’t want to think too much and endlessly browse/calculate odds inside massive spreadsheets,” Devenishek explained
“They want instant gratification and low friction/effort type experiences. We are building a curated version of the sportsbook product that delivers contextual micro bets every 15-45 seconds, allowing users to bet on the most exciting thing that is happening in the game right now”.
Leading early-stage funding, HappyHour CEO Robin Reed backed Kero’s ambitions to disrupt betting operators’ current static engagement capacities to reach a wider audience.
Reed stated: “Kero is at the forefront of innovation in sports betting, and has a deep understanding of the customer and how they want to be entertained.”
“As a strategic investor and lead in the current round, Happyhour.io is looking forward to working with Tomash and his team to bring this technology to casual bettors around the world.”
In total, thirty investors participated in the oversubscribed, including Barcelona Pitch mentor Tim Heath, General Partner at Yolo Investments, who said: “Finding genuine innovation in the sports betting space is increasingly difficult, and that’s why we’ve been so impressed by Kero Gaming.
“Micro Betting has the potential to drive sportsbook growth over the coming years, and Kero’s algorithmic approach sets them apart from the others.”
Moving forward, Kero stated that it would focus on the free-to-play offering for pro sports, whilst prioritising investments to scale and grow its real money product for gaming operators.
Signing off on a successful seed round, Devenishek concluded: “With this injection of capital and industry experience, we intend to continue focusing on our mission and bring about the next generation of sportsbook products even faster to markets like North America, Europe, LATAM and Asia.”
Source: SBC News
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