Sports Tech Company Khelomore Gets Funding From 6 Investors
The sports tech startup received an undisclosed amount of funding from 4 angel investors & 2 VC firms. It aims to aggregate all sporting things on one platform.
The sports industry in India has a few holes that may be targeted and filled, according to Jatin Paranjape, a retired cricketer who eventually engaged in sports marketing.
After working in the sector for more than ten years, Paranjape learned that choosing a sport to study, locating a suitable field, buying equipment, etc., was not an easy task.
Khelomore was established in 2017 by Paranjape with the purpose of collecting all sporting values into one platform.
Mumbai-based Khelomore is a sports technology startup that lets consumers pay to participate.
By providing services like venue booking, gathering coaches and events for particular sports, and providing a marketplace where sports goods can be purchased and sold, the platform enables its users to play and master a sport.
The platform also debuted KheloMore@home, a brand-new initiative aimed for people who want to practice and perform sports in their own residential areas.
After discovering that most Indians who are also passionate in sports reside in gated communities, Paranjape developed this technique.
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The platform, which is presently accessible in Mumbai, Pune, Hyderabad, Bangalore, and Ahmedabad, hopes to spread to more than 20 cities this year.
Currently, Khelomore collaborates with more than 1500 coaches and focuses on about 15 different sports.
The company is collaborating with national sports organizations to enroll registered coaches in order to grow its network of coaches.
The network makes money by paying commissions for each transaction, whether users book coaches, venues, or even goods through the platform’s online marketplace.
The platform has roughly five lakh users overall and one lakh active users per month. The platform’s monthly booking volume increased from 3500 in July 2021 to 12,000 in November 2022, according to the platform’s founder.
Angel investors like Gaurav Deepak, Shripad Nadkarni, Vijay Taparia, and Vinay Sanghi, as well as venture capital firms like Dream Sports in 2020 and Damera Ventures in 2022, participated in the sports tech company’s pre-series A fundraising round.
In 2021, the sports sector in India was worth Rs 95 billion. Playo and Hudle, which are in its pay and play vertical, are the company’s main competitors.
