Angel investors Saurabh Aggarwal, Arpit Bhardwaj, Vartika Joshi, Suryansh Jain, Pranjal Bansal, Amit Kumar Sahu, Pratibha Rani, and Sushila have contributed $100,000 to the pre-seed fundraising round of sports company KIBI Sports.
Lakshmana Padmanabhan and others have already contributed $129K to the Bengaluru-based enterprise.
According to a news statement from KIBI Sports, the new funding will be utilized to scale its platform, improve technology, and increase operations in order to reach a wider audience.
By developing a platform that empowers players and simplifies the sports ecosystem, KIBI Sports, which was founded in 2020 by Sagar Rai, removes the problems associated with a lack of funding and professional prospects. In order for athletes, companies, and organizations to prosper together, it seeks to establish a sustainable sports ecosystem.
By providing efficient and scalable solutions, it also hopes to revolutionize the sports business.
KIBI Sports claims that its three main revenue streams are a digital marketplace that makes it easy to buy sports gear and merchandise, a platform that links athletes and organizations with sponsors, and an efficient system for registering and scheduling sporting events. The platform increases the visibility of underrepresented sports while creating a complete platform that benefits stakeholders in the sports ecosystem, especially those in Tier-2 and Tier-3 cities.
A market study indicates that by 2027, the Indian sports sector is expected to grow to a value of $100 billion.
According to KIBI Sports, it has signed many sponsorship agreements and onboarded more than 20,000 athletes and 800 sports organizations.
