Mobile-based social networking platform for sports, Khel Now has received $500K in funding from Thailand-based Indochine International Co. Ltd.
Headquartered in Delhi, Khel Now was founded in 2016 by John Lee and Dhruv Ratra. It connects sports fans and businesses such as sports marketers, publishers, merchants, academies, clubs, coaches, etc., to one another via location-specific content and social networking.
Dhruv Ratra, co-founder and CEO, Khel Now said: “Our rapid growth across India has shown the potential of the platform and the problem it is solving for users. Southeast Asian sports fans and businesses are just as passionate, if not more so, than their Indian counterparts. We have been evaluating the possibilities of expanding there, and are very happy that in Indochine we have found an investor and a partner who are willing to work with us in the region, as well as to take on an advisory role in our company.”
The startup plans to use the funds to expand its network and services across Southeast Asian countries. The company is also planning to add sports such as tennis, basketball, badminton and Thai martial arts such as Muay Thai on its platform.
Commenting on the investment, Chaweewan Vian-Courtenay, Director of Communications, Indochine said, “We have consulted with sports businesses and noticed the opportunity for a sports-based social network that could connect and build online, as well as offline, communities around a common passion for sports. Khel Now is precisely the platform that can address this opportunity. While growing football users will continue at the same rapid rate, we will be working very closely with the team to evaluate bingeing on new sports and new users.”
Earlier in September last year, Khel Now raised $350K (INR 2.3 Cr) from Anglian Omega Network.
In June 2016, Bengaluru-based sports tech startup that helps in booking sports infrastructure in the vicinity, Athletto, raised an undisclosed amount in angel funding from industrialist Atul Ingle. In the same month, Delhi-based sports tech startup, Play Your Sport raised an undisclosed amount of Pre-Series A funding led by Ashish Gupta.
Other startups in this segment include Sports365, Football solutions, Unilazer Sports etc.
