KheloMore, a sportstech platform, acquired $2 million in a Pre-Series A fundraising round headed by Rajdip Gupta, designated partner at Clear Bridge Ventures LLP, and Ashwin Damera, creator of the edtech unicorn Eruditus.
The business intends to utilise the additional capital to grow into other locations like Delhi, Ahmedabad, and Rajkot, as well as to establish a network of training institutes.
KheloMore, established in 2016 by former Indian cricketers Jatin Paranjape and Ujwal Deole, plans to increase sports accessibility in India through its online booking platform. It links people to sporting venues and provides coaching services.
“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.
The firm also aspires to establish cricket academies around the country, collaborating with schools and other partners. In recent times, the firm also collaborated with Cricket Victoria, the All India Pickleball Association (AIPA), and Urbansports. These academies will provide young cricketers with access to curriculum, qualified coaches, AI-powered individualised coaching programs, and structured match sessions. Moreover, the KheloMore technology platform will serve as the foundation for these academies.
KheloMore is present in various Indian cities, including Mumbai, Pune, Bengaluru, and Hyderabad. The platform employs over 1,500 instructors and serves about 500,000 individuals. It competes in the pay-to-play vertical with other sportstech firms such as Playo and Hudle.
This capital round comes after a $2 million seed investment in November 2022 from Damera Ventures, the family office of Ashwin Damera, the creator of Eruditus, and his wife Bhagyashree Damera. Using its pay-and-play strategy, KheloMore claimed to have serviced over 5,000 consumers at that time.