Machaxi, a tech-enabled sports startup has raised Rs 4.8 crore in a Pre Series A Round led by Inflection Point Ventures.
The funds will be used to develop technology for user analytics and sports shopping, expand the sports shop vertical, and to build the Machaxi brand.
The company provides technology-enabled sports coaching for kids, offers state-of-the-art facilities for adults to play sports in their neighbourhoods, and offers an app that allows users to shop for sports equipment.
Pratish Raj, Co-founder and CEO is an MBA graduate from XLRI, Jamshedpur, has experience in product management at Amazon and Tata Administrative Services. Tushar Raj, co-founder and CTO is a B-Tech graduate from VIT, Vellore, has worked as a software developer at Altair and Nutanix and is also a state-level badminton player. Ashish Anand, co-founder and COO with a B-Tech in Computer Science from NIT Allahabad, has experience in software development at Altair. Together, they are committed to transforming India into a sports-playing nation through Machaxi.
Ivy Chin, Partner, Inflection Point Ventures says, “It has become increasingly challenging for adults and parents to access affordable, quality sports coaching within urban residential areas. Recognizing this need, Machaxi steps in to bridge the gap by offering top-notch coaching and progress tracking for children, along with state-of-the-art facilities for adults. Additionally, their user-friendly app makes purchasing sports equipment convenient and accessible. Through these comprehensive offerings, Machaxi demonstrates a strong commitment to customer satisfaction and care. Their vision for a healthier India aligns perfectly with IPV’s values, instilling confidence in their ability to break barriers and foster a thriving community for all.”.
Pratish Raj, Co-Founder, Machaxi, says, “We are thrilled to announce our latest round of funding, led by Inflection Point Ventures and Ankit Nagori (Co-Founder Cult.fit and Founder Eat.fit). Partnering with IPV has been an incredible experience, and their support will play a pivotal role in accelerating Machaxi's growth. This collaboration will enable us to enhance our services, expand our reach, and continue our mission to transform India into a Sports playing nation.”
As of May 2024, Machaxi has achieved a gross revenue run rate of Rs 18 crore, maintaining an EBITDA-positive status right from the start. The company’s reach is evident with over 50,000 users enjoying Machaxi's sports facilities monthly. These facilities cover a wide range of sports, including badminton, swimming, table tennis, football, and cricket, demonstrating Machaxi's capability to cater to diverse sports interests and its strong presence in the sports sector.
