Sportstech platform KheloMore has successfully raised $2 million in a Pre-Series A funding round. The investment was led by Clear Bridge Ventures LLP’s designated partner Rajdip Gupta and Ashwin Damera, the founder of the edtech unicorn Eruditus.
The startup, founded in 2016 by former Indian cricketer Jatin Paranjape and Ujwal Deole, aims to make sports more accessible to Indians through its online booking platform. It connects users with sports venues and offers coaching services.
KheloMore plans to use the newly acquired funds to expand into more cities, including Delhi, Ahmedabad, and Rajkot. The startup also intends to establish a network of training centres to further its mission of making sports more accessible across the country.
“This funding round validates our vision and allows us to improve access to sports at the grassroots level,” the founders said in a joint statement.
In addition to expanding its reach, KheloMore plans to launch cricket academies nationwide. These academies will partner with schools and other stakeholders to offer young aspiring cricketers access to a comprehensive curriculum, certified coaches, AI-driven personal coaching plans, and organized match sessions. The company has already partnered with Cricket Victoria, All India Pickleball Association, and Urbansports to enhance its offerings.
KheloMore currently operates in several Indian cities, including Mumbai, Pune, Bengaluru, and Hyderabad. The platform works with over 1,500 coaches and has about 500,000 users. It competes with other sportstech startups like Playo and Hudle in the pay-and-play vertical.
This latest funding round follows a previous investment of $2 million in a seed funding round from Damera Ventures, the family office of Eruditus founder Ashwin Damera and his spouse Bhagyashree Damera, in November 2022. At that time, KheloMore claimed to have served more than 5,000 customers using its pay-and-play model.
With the new funding, KheloMore is set to enhance its technology platform, which will serve as the foundation for the planned cricket academies, providing young athletes with state-of-the-art resources and training opportunities.
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