Highlights
KIBI Sports Secures Pre-Seed Funding for Growth
Bengaluru-based sports startup KIBI Sports has successfully raised $100,000 in a pre-seed funding round, backed by a group of angel investors, including notable names such as Saurabh Aggarwal, Arpit Bhardwaj, Vartika Joshi, Suryansh Jain, Pranjal Bansal, Amit Kumar Sahu, Pratibha Rani, and Sushila. Previously, the company had secured $129K from Lakshmana Padmanabhan and other investors.
The new funds will facilitate the expansion of operations, enhancement of technology, and scaling of its platform to reach a wider audience, as detailed in a recent press release from KIBI Sports.
About KIBI Sports
KIBI Sports was founded in 2020 by Sagar Rai. The startup aims to alleviate the challenges associated with limited financial support and lack of professional opportunities for athletes by establishing a platform that empowers them and optimises the sports ecosystem. Its mission is to nurture a sustainable sports environment where athletes, brands, and institutions can thrive collectively. Additionally, KIBI Sports aspires to revolutionise the sports industry by providing scalable and efficient solutions.
Revenue Channels
KIBI Sports operates through three primary revenue streams:
- A digital marketplace that enables seamless transactions for sports equipment and merchandise.
- A platform that connects athletes and institutions with brands seeking sponsorships.
- A streamlined system for sports event registration and booking.
This comprehensive platform caters to stakeholders across the sports ecosystem, specifically focusing on those in Tier-2 and Tier-3 cities, while also enhancing the visibility of underrepresented sports.
Market Potential
According to market research, the Indian sports industry is expected to reach $100 billion by 2027. KIBI Sports claims to have onboarded over 20,000 athletes and 800 sports institutions, in addition to securing multiple sponsorship deals.