Noida-based sports discovery startup Sportido has raised an undisclosed amount of funds in pre-series A round from an early-stage investment group Inflection Point Ventures.
The funds raised will be used to boost product development and expand its geographical presence to major Indian cities.
Founded by Neeraj Aggarwala and Akhil R, Sportido provides a sports discovery platform, enabling people to find and play more than 700 sports in their area. The startup is focused on creating a sports ecosystem, through sports and fitness activities, spreading knowledge and information about sports.
Sportido leverages advanced algorithm to connect individuals looking to play a sport with other people with similar interests in their area. It offers its services through an online platform and an app, which is available for both Android and iOS users.
In India, the startup is currently operational across Delhi NCR and it has more than 40,000 app downloads, enabling like-minded sports enthusiasts to connect and play.
Earlier in October 2016, Sportido raised an undisclosed amount of fund in a round from Sumpoorna Group.
Neeraj Aggarwala, Founder and CEO, Sportido, said, “We are seeing a positive shift in people’s mindset when it comes to sports and fitness activities. Most of the urban population wants to play sport but has been starved of opportunities till now. Finding people and places to play sport in your area at your preferred time is hard and that’s the primary reason why people don’t end up playing Sport, despite high willingness. Our mission is to help everyone do more sport and it’s great to see our early users doing just that with the help of our app.”
The latest funding coupled with Inflection Point Ventures’ network and expertise, Sportido is looking to become an integral part of India’s sports and fitness ecosystem.
With the growing health awareness and rising incomes of the middle class, the sports industry in India is expected to witness a steady growth.
Last month, sports education and training company KOOH Sports raised ₹75 crores from India focused private equity firm Gaja Capital.