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Exclusive: DealShare co-founder’s new startup Sports For Life raises seed round

EntrackrEntrackr · 9m ago
Exclusive: DealShare co-founder’s new startup Sports For Life raises seed round
Medial

Sourjyendu Medda, co-founder of social commerce platform DealShare, has ventured into the sportstech space with his new startup, Sports For Life, which aims to invest in and support the sports ecosystem in India, focusing on providing athletes with the necessary resources to excel. While Sports For Life has yet to announce its official launch, the Bengaluru-based startup has raised seed funding from individual investors and early-stage venture capital firm Roots Ventures. The board of Sports For Life’s parent company, Jambavan Academy, has passed a special resolution to issue 3,000 Seed CCPS to raise Rs 9.5 crore, according to its regulatory filings accessed by Entrackr. Roots Ventures invested Rs 5 crore, while ML Tondon and Sons HUF and Blume Ventures pumped in Rs 3 crore and Rs 1 crore, respectively. The rest of the amount was poured in by Kunal Shah’s QED Innovation and Himanshu Arora. According to TheKredible, the company is valued at Rs 36.65 crore ($4.3 million) following this seed round. Following the fresh funding, Roots Ventures has become the largest external stakeholder with a 12.08% stake, followed by ML Tandon HUF and Blume Ventures. Co-founders Sourjyendu Medda and Armaan Tandon collectively hold 66.83% of the company. See TheKredible for the detailed shareholding pattern. According to the firm’s website, Sports For Life is investing in sports academies across India, with the goal of creating a sports ecosystem that elevates the overall standard of sports in the country. Medda, who was one of the co-founders and a board member of DealShare before leaving in January, has also roped in Armaan Tandon, a former data and operations analyst at Cartesian, as a co-founder of Sports For Life. In 2024, several prominent startup founders have launched new ventures, many of which have already secured initial funding. Notable launches include ZeroPe by BharatPe co-founder Ashneer Grover, OppDoor by Flipkart co-founder Binny Bansal, Unikon by Bella Vita founder Aakash Anand, Gabit by Zomato co-founder Gaurav Gupta, Callmatic by Mitron TV co-founder Shivank Agarwal, and Lyskraft and Nurix AI by Cult.fit co-founder Mukesh Bansal.

Related News

Sports-tech startup Spolto raises $1 Mn in seed round

EntrackrEntrackr · 10m ago
Sports-tech startup Spolto raises $1 Mn in seed round
Medial

Sports-tech startup Spolto has raised $1 million (nearly Rs 8.4 crore) in a seed round led by Andrew Johnston and others. The proceeds will be deployed towards scaling its services and reaching more urban communities, Spolto said in a press-release. Co-founded in 2021 by Safa Soltani and Divesh Nathani, Spolto aims to empower sports across urban India. The platform offers access to a wide array of sports, from tennis and swimming to badminton and gymnastics, it is also offering new-age games like pickleball. The startup aspires to foster grassroots sports development and recreational skill-building, making sports an integral part of everyday life for urban Indians. According to Spolto, it is about to enhance its digital presence, addressing the needs of the new-age Indian consumer. With a focus on accessibility and convenience, it intends to become the go-to platform for sports skill development in India’s urban centers. The Pune-based company claims that it has established partnerships with over 1,200 coaches and academies across 12 sports in Maharashtra since inception.

Exclusive: Speciality chemicals startup Scimplify to raise $5 Mn

EntrackrEntrackr · 1y ago
Exclusive: Speciality chemicals startup Scimplify to raise $5 Mn
Medial

Scimplify, a platform for all sourcing and manufacturing of specialty chemicals, is raising a new round to the tune of $5 million, sources aware of the development told Entrackr. The new round is coming just after six months for the Bengaluru-based firm. “Omnivore is leading $5 million in Scimplify while existing backers will also double down,” said one of the sources requesting anonymity. Scimplify raised $3.67 million in its seed round from 3one4 Capital and Beenext in December last year. Founded by Salil Srivastava and Sachin Santhosh, Scimplify is a B2B fulfillment platform operating across the product life cycle from contract research to commercial chemical manufacturing across industries such as pharmaceutical, personal care, and agrochemical. During the last fundraise, Scimplify had said that it plans to expand its reach to 20 countries and 4 new categories in chemicals. Currently, it has manufacturing facilities in Karnataka, Hyderabad and Gujarat. “The deal is almost finalized and it will value Scimplify in the range of $20-25 million,” said another source. As per sources, Omnivore saw potential in Scimplify’s product portfolio of agrochemicals. According to the company’s website, it offers emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers, among others. As per startup data intelligence platform TheKredible, 3one4 Capital controls 17% in Scimplify while Beenext had 7% holding as of seed round. Co-founders collectively hold nearly 65% stake in the company. Queries sent to Scimplify co-founder Srivastava and Omnivore did not elicit response until publication of the story. Scimplify competes with Atomgrid and Covvalent. Bengaluru-based Atomgrid raised $1.2 million in its seed round led by Merak Ventures in May this year while Covvalent scooped up $4.3 million led by Nexus Venture Partners in November 2022. In June 2023, impact venture capital firm Omnivore announced the first close of its third fund at $150 million to make 25-30 new investments in seed and Series A rounds. Some of its portfolio companies include DeHaat, Arya, Stellapps, Reshamandi, Ecozen, Aquaconnect, and Pixxel.

Stupa Sports Analytics raises Rs 28 Cr in pre-Series A round

EntrackrEntrackr · 1y ago
Stupa Sports Analytics raises Rs 28 Cr in pre-Series A round
Medial

Sportstech startup Stupa Sports Analytics has raised Rs 28 crore in its pre-Series A round led by Centre Court Capital and PeerCapital. Earlier to this pre-Series A round, Stupa had raised Rs 7.5 crore in seed and pre-seed funding. The proceeds will be used to fuel its talent acquisition, global expansion, and product enhancement initiatives. The latest fund pool will also be deployed to attract top AI/ML and engineering talent to build advanced solutions. The fund will also power Stupa’s ambitions to expand globally into markets like the US, UK, Australia, and the Middle East while expanding its existing presence in regions like Europe and Asia. Founded by Megha Gambhir, Stupa Sports Analytics offers a comprehensive suite of AI-driven solutions for advanced analytics of player performance data, broadcasting capabilities and sports digitization tools for athletes, sports federations, broadcasters and fan communities worldwide. Stupa claims to have established over 15 strategic partnerships with key governing bodies and sports federations, primarily in Europe.

KIBI Sports raises $100K in pre-seed funding

EntrackrEntrackr · 6m ago
KIBI Sports raises $100K in pre-seed funding
Medial

KIBI Sports raises $100K in pre-seed funding Sports startup KIBI Sports has raised $100,000 in a pre-seed funding round from angel investors such as Saurabh Aggarwal, Arpit Bhardwaj, Vartika Joshi, Suryansh Jain, Pranjal Bansal, Amit Kumar Sahu, Pratibha Rani, and Sushila. The Bengaluru-based company had previously raised $129K from Lakshmana Padmanabhan and others. The fresh funds will be used to expand its operations, enhance technology, and scale its platform to reach a broader audience, KIBI Sports said in a press release. Founded in 2020 by Sagar Rai, KIBI Sports eliminates the hassles of lack of financial support and professional opportunities by creating a platform that empowers athletes and streamlines the sports ecosystem. It aims to create a sustainable sports ecosystem where athletes, brands, and institutions can thrive together. It also aspires to transform the way the sports industry operates by offering scalable and effective solutions. According to KIBI Sports, it operates through three core revenue channels: a digital marketplace facilitating seamless transactions for sports equipment and merchandise, a platform connecting athletes and institutions with brands for sponsorships, and a streamlined system for sports event registration and booking. The platform builds a comprehensive platform that serves stakeholders across the sports ecosystem, particularly those in Tier-2 and Tier-3 cities, while elevating the visibility of underrepresented sports. According to market research, the Indian sports industry is projected to reach $100 billion by 2027. KIBI Sports claims that it has onboarded over 20,000 athletes and 800 sports institutions and secured multiple sponsorship deals.

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