KIBI Sports Lands $100K in Pre-Seed Funding Deal
KIBI Sports, a promising sports startup based in Bengaluru, has successfully raised $100,000 in a pre-seed funding round. The round attracted support from several prominent angel investors, including Saurabh Aggarwal, Arpit Bhardwaj, Vartika Joshi, Suryansh Jain, Pranjal Bansal, Amit Kumar Sahu, Pratibha Rani, and Sushila. This fresh investment will serve as a catalyst for the company’s efforts to scale its operations and technology, allowing it to expand its platform and reach a wider audience.
This new capital injection comes on the heels of KIBI Sports’ earlier raise of $129,000 from investors like Lakshmana Padmanabhan, marking a clear upward trajectory for the company. With these funds, KIBI Sports is now set to ramp up its platform’s capabilities, focusing on improving the technology and increasing its market footprint.
KIBI Sports Receives Funding Boost
Founded in 2020 by Sagar Rai, KIBI Sports was born out of the desire to address the challenges faced by athletes, particularly in terms of financial backing and professional opportunities. The company’s vision revolves around creating a sustainable sports ecosystem that allows athletes, brands, and institutions to thrive together. It aims to reshape the traditional dynamics of the sports industry, offering scalable and effective solutions to enhance the experience for all stakeholders involved.
KIBI Sports operates through a multifaceted approach. Its platform serves as a digital marketplace, facilitating seamless transactions for sports equipment and merchandise. Beyond that, it acts as a bridge between athletes and institutions, connecting them with brands looking for sponsorships. The company also simplifies the process of sports event registration and booking, creating an integrated system that supports various aspects of the sports ecosystem.
Growth in Tier-2 and Tier-3 Cities
Although KIBI Sports serves athletes and institutions across the board, its primary focus is on those in Tier-2 and Tier-3 cities, as well as on underrepresented sports that often struggle to gain visibility. By offering this comprehensive range of services, KIBI Sports is gradually becoming a vital player in the sports sector, bringing greater opportunities to athletes outside the major metros.
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According to market projections, India’s sports industry is expected to reach an impressive $100 billion by 2027, underscoring the potential for growth in this space. KIBI Sports, with over 20,000 athletes and 800 sports institutions already onboard, is well-positioned to tap into this expanding market. The company has also secured several sponsorship deals, further cementing its role in transforming the landscape of Indian sports.
As KIBI moves forward, this new funding round marks the start of an exciting chapter. With an eye on innovation and scalability, the company aims to continue providing value to its diverse stakeholders, drive growth, and lead the charge in shaping the future of the sports industry in India.
