With KheloMore, a SportsTech firm, former Indian cricket player Jatin Paranjape entered the world of entrepreneurship. The company’s goal is to offer teaching services through cricket academies all over India. Additionally, the business offers a digital model to assist aspiring cricket players in honing their techniques.
In the most recent development, KheloMore just completed a Pre-Series A financing in which it raised $2 million. Rajdip Gupta, a designated partner of Clear Bridge Ventures LLP, spearheaded the funding round. The financing also included contributions from Euriditus Education Foundation CEO Ashwin Damera, who had previously invested in the business through Damera Ventures, a family office that also includes his wife Bhagyashree.
Along with co-founder Ujwal Deole, Paranjape revealed that the recently raised funds will be used to open cricket schools in additional places. Paranjape was a selector for the India Men’s Senior squad in the past. Rajkot, Delhi, and Ahmedabad are the top contenders for the proposed expansion.
According to Inc42, Paranjape and Deole jointly remarked, “This funding round validates our vision and allows us to improve access to sports at the grassroots level.”
At the moment, Jatin Paranjape startup is active in Bengaluru, Hyderabad, Mumbai, Pune, and Pune.
Deole, who has played pickleball personally, has contributed to the association between the business and the All India Pickleball Association. Urbansports and Cricket Victoria are two more of the company’s recognised partners. The business has also entered the current trend of providing athletes utilising its services with AI-powered coaching and analysis.
At the moment, the company’s academies are dispersed around important cities like Bengaluru, Hyderabad, Pune, Mumbai, and Pune. In addition, KheloMore states that it has half a million users and over 1,500 coaches on board.
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But this wasn’t the first money that KheloMore managed to collect. As previously indicated, in November 2022, $2 million was added through a seed fundraising round by Damera Ventures. To put things in perspective, the first investment made in a firm is known as a seed capital round, which occurs when the idea is formally incorporated into a venture.
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