The startup will use the funds for marketing and expansion of operations, Raman Raheja, co-founder and chief executive of Sports Flashes, said. The funding round was facilitated by Anup Kalra, founder of startup consulting firm Ambit B2B.
“It’s a pleasure to have Sushil Kumar support us in the initial stage of our venture. He will add value by bringing in expertise, vast experience and stature in the sports arena,” said Raheja.
The fresh capital-raise comes almost three weeks after the company raised angel funding from Vikas Bajaj, joint Managing Director at Bajaj Motors Ltd, and Amit Kharbanda, founder of set-top box manufacturing firm MyBox Technologies Pvt. Ltd.
Sports Flashes was founded in August 2016 by Raheja and Keshaw Sinha. Raheja is an entertainment and sports professional with more than 20 years of experience. He has been associated with Commonwealth Games, World Kabaddi League, International Indian Film Academy Awards and Indian Premier League, among others. Sinha comes with over 20 years of experience in the technology domain and has worked with companies including HMV Saregama, Zapak.com and Network 18.
Sports Flashes offers sports TV, live scores, streaming videos, news, views, highlights, statistics, live updates and commentary. The app, which is available on both Android and iOS, has formed streaming partnerships with 13 international sports associations and bodies.
The multi-lingual platform recently added Tamil as the sixth language and is planning to add Gujarati soon.
Other players in the digital sports content segment include Sportskeeda, Cricbuzz, Sports Asia, Khel Now and Floodlightz, among others.
Sports startups that recently raised funds include New Delhi-based social gaming platform Rooter Technologies Pvt Ltd, which secured investment from mobile handset maker Intex Technologies.
In January, Khel Now, a mobile-based social platform for sports, raised $500,000 (Rs 3.4 crore) from Bangkok-based investment firm Indochine International.
Investment professional and founder of banking firm Indus Advisors Pvt Ltd Sanjay Bhattacharya on April 10 rolled out an app, SportsUID that connects fans with players.
Source: vccircle