Bengaluru-based sports startup KIBI Sports has announced raising $100,000 in a pre-seed funding round from a group of angel investors, including Saurabh Aggarwal, Arpit Bhardwaj, Vartika Joshi, Suryansh Jain, Pranjal Bansal, Amit Kumar Sahu, Pratibha Rani, and Sushila.
This fresh capital infusion follows a previous funding round of $129,000 led by Lakshmana Padmanabhan and others. The funds will be allocated toward expanding operations, enhancing the platform’s technological capabilities, and scaling to reach a broader audience, the company revealed in a press release.
A Vision to Empower Athletes and Streamline Sports
Founded in 2020 by Sagar Rai, KIBI Sports was established with a mission to bridge gaps in financial support and professional opportunities for athletes. The startup is creating a sustainable sports ecosystem that connects athletes, brands, and institutions to foster growth and collaboration.
KIBI Sports operates through three primary revenue streams:
- Digital Marketplace: A seamless platform for buying and selling sports equipment and merchandise.
- Sponsorship Platform: Facilitating connections between athletes, sports institutions, and brands.
- Event Registration System: Streamlining registration and booking for sports events.
A significant focus is on Tier-2 and Tier-3 cities, intending to elevate the visibility of underrepresented sports and athletes.
Rapid Growth and Future Potential
The platform has already onboarded over 20,000 athletes and 800 sports institutions, securing multiple sponsorship deals in the process. By tapping into the growing sports industry in India, which is projected to reach $100 billion by 2027, KIBI Sports is positioning itself as a major player in transforming the sports ecosystem.
The company’s goal is to make sports accessible and sustainable, driving innovation while creating opportunities for athletes, especially those outside metro areas. The latest funding will allow KIBI Sports to enhance its reach and services, helping athletes and institutions unlock their full potential.
With a strong vision and innovative approach, KIBI Sports is poised to be a key contributor to the growth of India’s burgeoning sports industry.
