Update

Update

Last edited:

Last edited:

Apr 22, 2024

Apr 22, 2024

by

Maanit Madan

RF Labs Raising a $5M Seed Round

RF Labs Raising a $5M Seed Round

RF Labs Raising a $5M Seed Round

RF Labs is excited to announce that we are opening a seed funding round to accelerate our mission of revolutionizing the way people interact with competitive social games. Since inception of our platform 2 years ago, RF Labs has made significant strides in the field of competitive socializing, bringing state-of-the-art technology to traditional card games like poker.

Our Upbringing

Over the past 18 months, RF Labs has successfully launched and executed multiple pilot programs that have not only proven our concept, but have also received enthusiastic reception from the community. Our RF technology, which integrates RFID with gaming equipment, allows for real-time data capture and analysis, offering a unique, immersive experience to players and spectators alike. This technology has been a game-changer in how live game data is utilized, turning every player into a connected participant.

Our pilot programs have shown outstanding results. Within the first few months, we surpassed bar poker attendance records and generated over $150k in food and beverage sales alone. The feedback from players has been overwhelmingly positive, highlighting the enhanced experience provided by our technology.

A Unique Opportunity

Even with steady growth of RF Platform deployments, the current landscape presents a unique opportunity for creating a new competitive socializing concept, similar to the likes of TopGolf and Flight Club. The growth in social card rooms has been exponential, with a 25x increase in participants at major events like the World Series of Poker since 2000. Viewership for poker and related competitive games has soared, demonstrating a robust CAGR of 99% from 2018 onwards. Moreover, the proliferation of social card rooms and board game cafes signals a strong consumer shift towards interactive and engaging social experiences.

These trends are supported by technological advancements that have reduced the costs of crucial components like RFID tags by 80% over the last decade, making our sophisticated equipment more affordable and scalable. Furthermore, Gen Z's increased spending on experiences rather than products suggests a growing market for our immersive and socially driven gaming environments.

The Role of Seed Funding

With this seed funding round, RF Labs plans to expand our technological capabilities and market reach. Here's how we intend to allocate the funds:

  • Game Theory Standalone Locations: Majority of our funding will go towards establishing model locations that fully utilize our Game Theory concepts, providing a blueprint for future locations, potential franchisees, and operational partners.

  • Hardware Development: We aim to further reduce the cost of goods sold by optimizing our manufacturing processes, thereby making our technology accessible to more customers and increasing our profit margins.

  • Software Development: Investments in our software platforms, including RF Cloud and RF Mobile, will enhance user experience and community engagement, supporting a growing network of players globally.

  • Customer Acquisition and Support: We plan to boost our marketing efforts to attract a broader audience and improve customer support, ensuring a seamless experience for all users.

We're not just creating games; we're creating communities, bringing people together in ways that are engaging, educational, and enjoyable. Our goal is to reach over 10 million active monthly players and to expand our presence to over 1,000 locations worldwide, across various strategy games from poker to chess. With our robust technology and the continued support of our community and investors, RF Labs is set to redefine the landscape of competition.

Our Mission >

Join Us on Our Journey

We invite investors who are passionate about technology, competition, and innovation to join us in this exciting phase of our growth. Together, we can unlock the full potential of competitive socializing and build a legacy that blends tradition with technology.

For more information on our seed round and to discuss potential partnerships, please reach out to us via email.

maanit@rf.team | daniel@rf.team

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© 2024 RF Labs, Inc. All rights reserved.

© 2024 RF Labs, Inc. All rights reserved.

© 2024 RF Labs, Inc. All rights reserved.