Hudle with IPV backing acquires Sportstech Startup Sportido
- ByStartupStory | March 3, 2023
Hudle, a sportstech startup, has purchased a controlling stake in Delhi-based startup Sportido for an undisclosed sum. With this acquisition, Hudle aims to fortify its position in the amateur sports market in North India and expand into other markets where Sportido operates.
Sportido, a Noida-based sports tech mobile app startup founded by Akhil Ramachandran and Neeraj Aggarwala in 2016, has been acquired by sportstech startup Hudle for an undisclosed amount. Sportido’s app helps users find like-minded players interested in playing the same sport and book nearby sports facilities. Hudle aims to leverage this acquisition to expedite its goal of making recreational sports India’s primary form of fitness and exercise. Arjun Singh Verma, Hudle’s co-founder and COO, stated that the addition of Sportido would aid in the rapid growth of India’s sports ecosystem.
Investors in Sportido include SucSEED Venture Partners, Inflection Point Ventures, and Sumpoorna. Hudle, founded in 2018 by Verma, Bansal, and Narain, offers a mobile app for discovering and booking over 40 sports in more than 1,000 venues throughout India. The startup also launched a new feature called “groups” on its app to help users connect with other sports players.
According to the startup, its software helps in managing the daily operations of sports venues, including inventory management and invoicing. Hudle’s investors include Survam Partners, Inflection Point Ventures, Indian Angel Network, Pullela Gopichand, and Ajinkya Rahane. The startup competes in the sportstech space with companies like GameChanger Media, ZEVEN, and Run Adam.
According to reports, sportstech startups based in India have raised $139 Mn through 29 funding deals from 2014 to November 2022. In addition, a report from Anand Rathi Investment Banking has estimated that the sports tech market in India was valued at $27 Bn in 2020 and is predicted to grow to $100 Bn by 2027, representing a five-fold increase.
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