SucSEED Indovation Fund backs SportVot again in pre-series A round of ₹9.4 crore!
SportVot, a leading sports broadcast, and talent discovery platform, announced that it has raised ₹9.4 Crore ($1.13Mn) in a Pre-Series A round. Led by Omidyar Network India, with participation from Anicut Capital, StartupLynk, Ventana Ventures, as well as existing investors SucSEED Indovation Fund, Capital A, Ankur Capital, and Marwah Sports, the funding marks a significant milestone in SportVot’s mission to democratise sports through technology.
This capital will help SportVot increase the creation of opportunities for emerging sports talent while enhancing sports participation at all levels across India.
SportVot has streamed more than 35,000 matches so far with viewership of 100 million. SportVot is solving the problem of lack of a common platform for local clubs/institutions to engage with their community, so 99% of the the sports games in the world are not live-streamed or telecast across any platform.
Speaking on their investment reasons; Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “Our continued investment in SportVot reflects our belief in their vision and the significant strides they’ve made in the sports technology space.We are thrilled to support SportVot that is not only advancing technology in sports but also promoting a healthier lifestyle and a sports culture in India. Their innovative approach is set to change the way we perceive and engage with sports at the grassroots level.”
Highlighting the impact of this funding, SportVot’s Co-founder Sidhhant Agarwal says, “We are thrilled to have the backing of such esteemed investors. With this substantial investment, we aim to expand our technology and product offerings, not just within India but also internationally. Our goal is to make sports and sports technology advanced sports technology accessible to the millions of athletes and sports organisations across across India and beyond”
Rohan Vyavaharkar, Director at Omidyar Network India, commented, “As an investment firm focused on the next half billion or NHB, we believe in the power of sport to create impact in this segment. SportVot is providing a platform for nurturing grassroot-level sports and democratising the process of talent discovery, especially those with limited opportunities such as the NHB. Its cutting-edge technology that allows anyone to broadcast from anywhere using any internet-enabled device with a camera makes it uniquely placed to help create impact. We believe in Siddhanth, Shubhangi and Yash’s vision and that SportVot will play a pivotal role in helping transform significant aspects of the sports sector in India.”
The funding will primarily be used to expand SportVot’s technology and product offerings, enhance sports video capture capabilities, and promote sports participation across India. Over the past four years, SportVot has digitised over 95,000 games from more than 15 sports, providing visibility to over 350,000 athletes. “We’re ready to scale new heights, over the past four years, we have enabled digitisation for over 100,000 games from more than 15 sports, we look to take this number to over 500,000 in India and globally. Our aim continues to be to bring unprecedented opportunities to emerging talents,” added Sidhhant Agarwal, Co-Founder of SportVot.
About SucSEED Indovation Fund — SucSEED Indovation Fund (SIF) is a SEBI regulated AIF Cat-1 Venture Capital Angel Fund with clear focus on early-stage tech seed initiative. General Partners of the Indovation Fund have 110+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 65+ startups. SIF attempts to support Indian Innovation for mass needs in the following Seven (7) sectors —
EdTech
FinTech
Health-tech
Security & RegTech
EnterpriseTech SaAS
Gaming Sports & MediaTech
Digital Economy & Emerging Tech opportunities.