In a funding round headed by IAN Alpha Fund and featuring participation from Anicut Capital, Let’s Venture, Capital A, Succeed Innovation, Garima Vohra, and Gaurav Chanana, among others, the sports-tech startup SportVot has raised Rs 32.7 crore.
In February 2024, the Mumbai-based startup raised Rs 9.4 crore in a pre-Series A round headed by Omidyar Network India.
According to a press release from SportVot, the proceeds will be used to grow globally and make additional investments in our AI-led production and distribution capabilities.
SportVot, which was co-founded in 2019 by Sidhhant Agarwal, Shubhangi Gupta, and Yash Bhagwatkar, offers a comprehensive range of online services to stream sporting events and assist in identifying Indian sports talent at the local level. By utilizing cloud technology, the startup has innovated sports broadcasting and assisted in bringing funding to regional sports associations.
According to SportVot, it has already streamed more than 500,000 games in more than 30 countries, reaching over 100 million viewers. It is also gaining popularity in North America, Europe, the Middle East, and Australia.
In addition to paying tournament organizers and sports organizations for video production and streaming services, the startup also makes money from pay-per-view, subscriptions, and brand partnerships.
Due to high production costs and restricted access to technology, almost 99% of sports played worldwide are not streamed, according to SportVot. By enabling leagues and organizers of all sizes to access professional-caliber sports broadcasting, it seeks to close that gap.
The Ahmedabad-based CricHeroes and the Mumbai-based FanCode are the other prominent players in this market.
