SportsHero launches with US$2.4mil funding, aims for ASX listing via RTO

• Nevada Iron acquiring SportsHero, which will list on ASX via reverse takeover
• Real-Time sports prediction app SportsHero rebranded from FootballHero

 
SINGAPORE-based SportsHero, which describes itself as Asia’s first real-time fantasy sports app and social prediction platform, said it has secured US$2.4 million in funding in a round led by Australia-based Nevada Iron Ltd.
 
In a statement, SportsHero said it has signed a Heads of Agreement (HoA) and looks to accelerate its listing on the Australian Securities Exchange (ASX) by August via a reverse takeover of Nevada Iron.
 
Meanwhile, the funding will be used to drive expansion across Asia, including its priority markets China, India, Singapore, Indonesia, Thailand, and Vietnam, as well as Europe, South America, and the United States; and to also drive partner and user acquisition.
 
SportsHero was founded by MyHero Pte Ltd, the company behind the stock market simulation app TradeHero.
 
SportsHero is the new incarnation of FootballHero, which already counts over 250,000 users, which was rebranded to include a broader sporting focus. These users will be migrated over to SportsHero.
 
“We have seen very promising success and engagement with TradeHero in gamifying financial learning and stock trading, driven by community engagement,” said SportsHero cofounder and chief executive officer Dinesh Bhatia (pic).
 
“There’s a very strong correlation between finance and sports – we saw the opportunity to replicate this success with SportsHero, tapping into the fast growing Asian and global e-sports markets,” he added.
 
The app allows sports fans to make better predictions on the outcomes of games by harnessing the power of all the other sports fans in its social community, with validated prediction results and social sentiment, SportsHero said in its statement.
 
Sports included in the app at launch are football and baseball (Major League Baseball), with tennis, American football (National Football League), basketball (NBA), and hockey (NHL) in development.
 
Over the next 12 to 18 months, SportsHero plans to roll out support for additional sports including golf, table tennis, and badminton.
 
Particular emphasis will be placed on local leagues and teams, with a view to building the overall sporting culture and ecosystem in each market, the company said.
 
SportsHero is also a social competition platform where top ranked fans stand to win daily, weekly, and monthly prizes, it added.
 
The app will also feature in-app virtual currency available via SportsHero Points and Golden Tickets, exchangeable for merchandise, event tickets, and other items on the SportsHero website.
 
SportsHero is available for Android and iOS devices.
 
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