Startup pitches AI to secure $20M funding

Lucra Sports founder Dylan Robbins secured $20 million in Series B funding, led by Cathie Wood's ARK Invest, despite not being an AI company. Robbins employed a strategic pitch that initially highlighted AI's potential impact on leisure time, positioning his eSports platform as a beneficiary. This approach helped overcome investor skepticism during a period dominated by AI-focused ventures. The company offers white-label interactive gaming competitions as a novel loyalty program for businesses, with clients like Five Iron Golf and Dave & Buster's. Robbins also emphasized the importance of networking and building relationships, as a casual bar encounter led to his initial contact with ARK Invest.