Lead by Omidyar Network India, SportVot, a platform for talent discovery and sports broadcasting, has raised Rs 9.4 crore in a pre-Series A round. Besides its current investors Capital A, Ankur Capital, SucSEED Indovation Fund, and Marwah Sports, Anicut Capital, StartupLynk, and Ventana Ventures also participated in the round.
In 2022, SportVot’s current investors contributed 3.25 crore to its seed round.
According to a press release from SportVot, the money raised will be used to improve chances for young athletes and to increase sports participation in India at all levels.
SportVot is an online platform that allows users to stream sporting events and find sports talent in India, having been co-founded in 2019 by Sidhhant Agarwal, Shubhangi Gupta, and Yash Bhagwatkar. By using cloud technology, the startup has revolutionized sports broadcasting and helped local sports associations attract investment.
With partnerships with organizations like the Brahmaputra Volleyball League in Assam, the Maharashtra State Kabaddi Association, the Football Delhi Association, and the Nashik District Cricket Association, among others, the Mumbai-based company hopes to connect remote areas to the global sports conversation. More than 350,000 athletes have reportedly benefited from its digitalization of over 95,000 games from more than 15 sports.
Months after Omidyar made the decision to shut down its operations in India, the investment was made. The investor claims that while it will not be making any more investments, it will honor its obligations for subsequent rounds. Recently, the company led a $14 million funding round for Revfin, a startup financing electric vehicles.
