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About Rahul Sood

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Latest Rahul Sood News

Andreessen Horowitz doubles down on Seattle blockchain game startup, leads $40M round

May 9, 2022

Andreessen Horowitz doubles down on Seattle blockchain game startup, leads $40M round May 9, 2022 at 8:04 am Share  4 (Irreverent Labs Photo) The news: Silicon Valley heavyweight Andreessen Horowitz is putting more cash behind Irreverent Labs . The investment firm led a $40 million round for the Seattle startup building a blockchain-based fighting game that pits chicken-esque fighters against each other. The details: Andreessen led a $5 million seed round just seven months ago . “We are raising now because [Andreessen] saw no reason to wait based on our overall traction,” Irreverent Labs CEO Rahul Sood told GeekWire. The game: MechaFightClub  is an online “cruelty-free” fighting game that combines emerging technologies including artificial intelligence and NFTs. Players can trade, sell, and use fighters known as “mechabots” that are each unique and live on the Solana blockchain. The game uses a play-to-earn ecosystem with its blockchain currency called nuggets. Players can use nuggets to make in-game purchases or withdraw them for use on the wider Solana blockchain. “Gamers will soon realize that having ownership of the characters within the game and building a relationship with that character over time is actually a really good thing,” Sood previously said. Irreverent Labs co-founders Rahul Sood (left) and David Raskino. (Irreverent Labs Photo) The leaders: Sood previously co-founded esports betting startup Unikrn, which was  acquired  last year, and led Microsoft’s venture capital arm. Co-founder David Raskino helped lead the VC fund with Sood and most recently oversaw a new security team at Microsoft. What’s next: The game is set to launch later this year. The company already has more than 35,000 registered users. “Our Discord is thriving and we have spent $0 on marketing. It’s all organic growth,” Sood said. He said revenue is expected in July. The investors: The 17-person company added some notable investors, including Solana Ventures, the VC arm of Solana Labs; Michael Ovitz, founder of Creative Artists Agency (CAA); Sonam Kapoor, a Bollywood star; and Infinity Ventures Crypto. Existing backers also invested, including Mantis VC, Keen Crypto, Unlock Venture Partners, and Advancit Capital. “For all its lighthearted fun, Irreverent Labs is a deep technology company building advanced tech on top of a futuristic mecha-cockfighting game,” Arianna Simpson, general partner at Andreessen Horowitz, said in a statement. Last word: Irreverent Labs is among a flock of nascent blockchain startups that raised a record $25.2 billion last year, up 713% year-over-year, according to CBInsights . There are also several fast-growing blockchain gaming startups such as Axie Infinity. Irreverent Labs will need to convince traditional gamers that layering in technologies such as NFTs will improve the gaming experience — and create a business while doing so. It now has plenty of cash to give it a go.

Rahul Sood Investments

1 Investments

Rahul Sood has made 1 investments. Their latest investment was in Artivatic as part of their Angel on April 4, 2017.

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Rahul Sood Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/4/2017

Angel

Artivatic

Yes

3

Date

4/4/2017

Round

Angel

Company

Artivatic

Amount

New?

Yes

Co-Investors

Sources

3

Rahul Sood Portfolio Exits

1 Portfolio Exit

Rahul Sood has 1 portfolio exit. Their latest portfolio exit was Artivatic on February 21, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/21/2022

Acquired

$99M

3

Date

2/21/2022

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

3

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