Total amount raised
$1.5 Million
Latest funding date
10/1/2021
Location
Playo has successfully raised funding over five rounds, with the latest being a Series A round. The platform is backed by investors including Thirteen Initiatives and ah! Ventures.
Keep reading to explore the intricacies of Playo's fundraising journey and the investors backing this innovative platform.
What Is Playo?
Playo is a sports networking app that connects sports enthusiasts, helping them discover venues, improve their skills, and manage their sports activities. Founded by Gauravjeet, the company is based in Bengaluru, Karnataka, India.
Operating in the industries of apps, communities, social networks, and sports, Playo boasts a small team of 11-50 employees. The platform has garnered a significant user base and has received several accolades, including being named one of the Best Apps of 2018 by Google Playstore.
How Much Funding Has Playo Raised?
- Pre-Seed Round
- Amount Raised: USD 300,000
- 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 establish initial operations.
- Seed Round
- Amount Raised: USD 700,000
- 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 features.
- 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 further growth and market penetration.
- Seed Round
- Amount Raised: USD 500,000
- Date: August 2021
- Lead Investors: ah! Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance the platform's capabilities.
- Series A Round
- Amount Raised: Not publicly disclosed
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enter new markets.
Total Amount Raised: USD 1,500,000
Current Valuation: Not publicly disclosed
Key Investors
- ah! Ventures
- Details: ah! Ventures is one of the world's largest fundraising platforms for early-stage startups. It has a total investment portfolio of INR 224 CR (~30 MN USD) with 84 investments in 67 startups and 11 exits to date.
- Investment Focus Areas: Early-stage startups, SportsTech, Technology
- Notable Investments: 84 investments in 67 startups, 11 exits
- Thirteen Initiatives
- Details: Thirteen Initiatives is a key investor in Playo. Specific details about this investor are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Playo?
Playo stands at the cusp of significant growth opportunities, particularly with its expansion into international markets like the UK and Australia. The platform's focus on building micro-communities and leveraging the post-COVID recovery in sports activities positions it well to capture a larger share of the SportsTech market. With a user base of 1.5 million and 150,000 monthly sports activities, the potential for growth is substantial.
Future fundraising opportunities appear promising as Playo continues to scale. The ongoing Pre-Series A round and the positive market response suggest that additional investment rounds could be on the horizon. This influx of capital would enable Playo to enhance its platform and expand its reach further.
However, challenges remain. The impact of COVID-19 on sports activities and user engagement, coupled with competition in the SportsTech market, could pose hurdles. Additionally, scaling operations in new international markets will require strategic planning and execution. Despite these challenges, Playo's strong foundation and market potential make it a compelling player in the SportsTech industry.
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