Global Sports Tech Update | June 2022

LONDON | NEW YORK | LOS ANGELES | July 27th, 2022 – Drake Star is pleased to release the June 2022 Sports Tech Industry Update, which provides an in-depth overview of the sector with a B2C & B2B market map, breakdown of M&A and funding activity, top headlines, and an analysis of share prices movement and sector valuations during June. According to the update, the sector reported 16 M&A deals in June, accounting for $1.8b in closed deal activity, while fundraising activity reached a total of 39 deals and $373m in disclosed funding.

Select M&A deals during the month include:

  • Entain acquired online casino and sports betting platform BetCity for $900 million, allowing BetCity to leverage Entain’s local expertise in the newly regulated Dutch market.
  • Bain Capital and Nextalia acquired OTT provider Deltatre for $850 million, bringing the company into its next stage of growth.
  • Valhallan acquired the North American Esports League (NAEL) for an undisclosed amount, supplementing global league expansion plans.

Standout funding rounds include:

  • Veo raised $78 million in a Series C round led by ATP
  • Let’s Do This raised $60 million in a Series B round led by Craft Ventures and Headline with co-investment from venture firms and professional athletes
  • Teamworks raised a $50 million Series D round led by Delta-v Capital with co-investment from venture firms and professional athletes

Despite the strong deal flow, industry valuations across sectors including Digital Media, OTT/Content, Sports Franchises, Athlete Performance, and Esports/Fantasy Sports retreated in June.

Drake Star Sports Tech Team:
Gregory Bedrosian, Eric Ward, Michael Metzger, Mohit Pareek, Mathilde Deschamps, Edward Page, Michael Heilweil, Chase Gibbs.


For further inquiries, please contact:

Gregory Bedrosian
Managing Partner & CEO, Member of the Executive Committee Consumer & Retail Tech Digital Media Digital Services
Eric Ward
Managing Partner Consumer & Retail Tech Digital Media Software/SaaS


Michael Metzger
Partner Digital Media FinTech

Los Angeles

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