IPV-Backed Hudle Acquires Sportstech Startup Sportido

SUMMARY

The acquisition will help Hudle consolidate and strengthen its position in the North India market for amateur sports

The deal will further give Hudle access to newer markets where Sportido operates

Sportido earlier targeted to deliver services to 10 Mn users globally by 2022. It counts SucSEED Venture Partners, Inflection Point Ventures and Sumpoorna as its investors

Sportstech startup Hudle has acquired a controlling stake in Delhi-based startup Sportido for an undisclosed amount.

The acquisition will help Hudle consolidate and strengthen its position in the North India market for amateur sports. It will further give Hudle access to newer markets where Sportido operates.

Founded in 2016 by Akhil Ramachandran and Neeraj Aggarwala, Noida-based Sportido is a sports tech mobile app startup that helps individuals find like-minded players, who are interested in playing the same sport. It further enables users to select nearby places and book them to play sports.

“We have seen exponential growth of the sports ecosystem and Hudle over the last three years & Sportido coming onboard will help us accelerate towards our vision of making ‘recreational sports’ India’s primary form of fitness & exercise,” said, Arjun Singh Verma, cofounder and COO of Hudle.

Sportido counts SucSEED Venture Partners, Inflection Point Ventures and Sumpoorna as its investors.

Founded in 2018 by Verma and Suhail Narain, Hudle is a mobile app that enables sports enthusiasts to find and book more than 40 sports in more than 1000 venues across the country.

Hudle shared that it recently launched a new feature ‘groups’ on its app to enable users to connect with other sports players.

The startup said that its inventory management and invoicing software for sports venues manages daily operations smoothly.

Hudle’s backers include Inflection Point Ventures, Survam Partners, Indian Angel Network, Ajinkya Rahane and Pullela Gopichand.

In the sportstech segment, it competes with the likes of GameChanger Media, ZEVEN and Run Adam.

According to Inc42 data, domestic sportstech startups have collectively raised $139 Mn across 29 funding deals between 2014 and November 2022.

While, Anand Rathi Investment Banking report states that the country’s sports tech market was pegged at $27 Bn in 2020. The industry is anticipated to grow by 5X to $100 Bn by 2027.
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Update| March 2 2023, 11.42 PM

The story has been updated to add correct details of Hudle