Total amount raised
$1.5 Millions
Latest funding date
Location
Playo has successfully raised $500,000 in a Seed round and an undisclosed amount in a Series A round, attracting investors like Thirteen Initiatives and ah! Ventures. The platform serves as a comprehensive sports networking app, connecting enthusiasts, enabling venue discovery, and facilitating sports activities management.
Keep reading to explore the intricacies of Playo's fundraising journey and the investors backing this innovative platform.
What Is Playo?
Founded in 2014, Playo is a sports networking app based in Bengaluru, Karnataka, India. The platform connects sports enthusiasts, helping them find play partners, discover venues, and manage activities.
Playo was founded by Amit Roushan, Daanish Suhail, Karthik Igoor, and Umashankar AN. The company has grown to employ between 11 and 50 people, fostering a vibrant community of sports lovers.
With a mission to empower local communities, Playo serves as a one-stop destination for sports, fitness, and recreational activities, making it easier for users to engage in their favorite sports.
How Much Funding Has Playo Raised?
- Pre-Seed Round
- Amount Raised: $300K
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the platform and build initial features.
- Seed Round
- Amount Raised: $700K
- Date: December 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and enhance platform capabilities.
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and prepare for larger funding rounds.
- Seed Round
- Amount Raised: $500K
- Date: August 2021
- Lead Investors: ah! Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand into new markets.
- Series A Round
- Amount Raised: Not publicly disclosed
- Date: October 2021
- Lead Investors: Thirteen Initiatives
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance platform features and increase market penetration.
Total Amount Raised: $1.5M
Current Valuation: Not publicly disclosed
Key Investors
- Thirteen Initiatives
- Details: Thirteen Initiatives is a venture capital firm known for its strategic investments in early-stage startups. The firm focuses on providing not just capital but also mentorship and industry connections to its portfolio companies.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Not publicly disclosed
- ah! Ventures
- Details: ah! Ventures is a prominent platform that connects startups with investors. It has a diverse portfolio with 84 investments in 67 startups and 11 exits to date.
- Investment Focus Areas: SportsTech, FinTech, HealthTech
- Notable Investments: Playo, ConfirmTkt, MyAdvo
- Other Eminent Angel Investors
- Details: Various angel investors have participated in funding rounds for Playo, providing crucial early-stage capital. These investors often bring valuable industry experience and networks.
- Investment Focus Areas: Not specified
- Notable Investments: Not specified
What's Next for Playo?
Playo is poised to capitalize on significant opportunities, including expanding into international markets like the UK and Australia. With a user base of 1.5 million and a pre-COVID annualized run rate of $8 million in sales, the platform is well-positioned to leverage its 3 Cs model: Community, Content, and Commerce.
Future fundraising opportunities appear promising as Playo continues its Pre-Series A round, attracting interest from investors keen on the SportsTech sector. However, challenges such as competition and scaling operations in new markets could test the company's resilience. Maintaining user engagement post-pandemic will be crucial for sustained growth.
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