Unikrn, the US-based eSports betting startup formed by ex-Microsoft Ventures general manager Rahul Sood, formed a strategic partnership with gambling company Tabcorp on Wednesday.
Unikrn and Tabcorp are working together on Unikrn’s recently launched eSports platform, which allows users to bet on multiplayer video game competitions. It provides live viewing, discussions and odds, as well as a betting service in jurisdictions where it is legal.
Sood confirmed to Global Corporate Venturing today that the partnership includes an equity investment by Tabcorp, but did not disclose how much funding the Australia-based corporate provided.
“Tabcorp is 100% committed to safe and legal betting, and they are incredibly proud of their reputation for responsible betting,” Sood told GCV. “Our visions aligned quite well, and they made the decision to invest in Unikrn and launch a global eSports platform powered by Unikrn and Tabcorp.
Unikrn expanded its seed round, backed by undisclosed investors, from $2.5m to $3m in February this year.
The company also acquired Pinion, a US-based video game advertising startup that secured a small amount of seed funding from software producer Microsoft’s Bing Fund in 2012. Bing Fund’s successor, Microsoft Ventures, acts as Microsoft’s corporate venturing unit today.