Sportstech Startup Spolto Raises $1 Mn In Seed Round
With this fresh infusion of capital, Spolto plans to scale its services, aiming to reach even more urban communities.
_20240904170507_original_image_7.webp)
Spolto, an Indo-Swedish sportstech startup, closed its latest funding round, bringing its total raised capital to USD 1 million (Rs 9 crore). The startup, founded in 2021 by Safa Soltani, with Divesh Nathani as Partner and COO, said, is on a mission to revolutionise sports access across urban India.
The recent round saw an investment of USD 160K (Rs 1.35 crore), led by Andrew Johnston, Co-founder & CEO of LetsShare, a Sweden-based venture. “India represents a massive opportunity in the world of sports and technology. The country’s vibrant sports culture and technological advancements present an unprecedented landscape for growth and innovation. Spolto is at the forefront of this transformation, and I am excited to support their vision and journey.” said Johnston.
As per a press release, this funding round also attracted investments from sports enthusiasts and entrepreneurs from both India and Sweden, highlighting the growing international interest in India’s evolving sports ecosystem.
Since its inception, Spolto claimed to have established partnerships with over 1,200 coaches and academies across 12 sports in Maharashtra, making it one of India’s largest sports hubs. By offering access to a wide array of sports, from tennis and swimming to badminton and gymnastics, Spolto is working to diversify sports participation beyond the traditional focus on cricket and football to new-age game like pickleball.
With this fresh infusion of capital, Spolto plans to scale its services, aiming to reach even more urban communities. The startup’s goal is to foster grassroots sports development and recreational skill-building, making sports an integral part of everyday life for urban Indians, as per the press release.
"At Spolto, we're committed to expanding access to sports in urban India, helping individuals of all ages and backgrounds discover the joy and benefits of sports. This funding will enable us to grow our platform and empower more people to embrace an active lifestyle," said Safa Soltani, Founder & CEO of Spolto and Divesh Nathani, COO of Spolto.
The company is also set to enhance its digital presence, addressing the needs of the new-age Indian consumer. With a focus on accessibility and convenience, Spolto said that it aims to become the go-to platform for sports skill development in India’s urban centers.
