The pitch trick that helped an eSports startup raise $20M when VCs only wanted AI
Lucra Sports successfully raised $20 million in a Series B funding round led by ARK Invest, despite the current venture capital focus on AI. Founder Dylan Robbins utilized a unique pitch strategy to attract investors, emphasizing the potential of AI to enhance gaming experiences. His approach included building personal connections and presenting a compelling vision for the company's growth.
- ▪Lucra Sports raised $20 million in a Series B funding round led by ARK Invest.
- ▪Dylan Robbins adjusted his pitch to highlight AI's relevance to his gaming business.
- ▪Robbins emphasized the importance of networking and building personal connections in fundraising.
Opening excerpt (first ~120 words) tap to expand
Earlier this year, Lucra Sports founder and CEO Dylan Robbins did something that no one else has ever done. He landed famed public investor Cathie Wood and her ARK Invest Venture Fund as a lead in a startup fundraising round. Lucra announced last month that it raised a $20 million Series B, led by the ARK fund, with participation from several other VCs. Robbins attracted ARK even though the fund had previously gotten badly burned on a similar eSports company: Skillz, a skill-based gaming platform in which the fund invested heavily before divesting at a loss. On top of that, Dylan landed this big fish as an investor even though his company is not in the one area that all VCs are currently chasing: AI.
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