Sportstech Startup Playo Raises $500K In Pre-Series A Round

• ByAyushi Ray     |    August 6, 2021

Sportstech Startup Playo raises $500K in pre-Series A round. The funding came from ah! Ventures High Tables platform and other angel investors, it was the 18th investment of ah! Ventures, in 2021 alone, three more are to be announced in the coming months. Playo which has it’s headquarters in Bengaluru is also operational in UAE and Qatar, with pilots setting up in US and Australia. It is an all in one platform for players, and sports lovers, and it focuses on building micro-communities and enabling sports related services , the target audience of which is urban adult users. With a business model focusing on three Cs- Community, Content and Commerce and 1.5 million users, Playo is today a platform for amateur sports globally. Amit Kumar, Senior Partner at ah! Ventures said, “Sports has traditionally been an incredible, unifying forum for communities to come together. However, with time we have seen people stop playing or people getting stuck with finding players to play the game with or with questions like where to play and how to play.”

Playo is so popular that it has built almost three million relationships amongst users and powered 150,000 monthly sports activities. With a pre-COVID annualised run rate of $8 million in sales, the startup said it had achieved cash-flow breakeven before being impacted by the pandemic.Gauravjeet Singh, Founder and CEO of Playo, added, “Sports provides an incomparable opportunity to connect people while also making them fitter in a more engaged way. Playo’s value proposition has resonated with users, not just in Indian metros but also in Tier II/III towns and international markets. More than 10 percent of our active users are outside India and during the course of the pandemic we have seen our presence swell to 35+ cities across India.” 

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