Sporjo, an online sports education company, on Thursday said it has raised USD 2 million (about Rs 14.8 crore) in funding led by Punit Balan Group Chairman Punit Balan.
The proceeds from the pre-series A round, which also saw participation from other investors, will be used for expanding product offerings, improving product experience, scaling team, driving pan-India expansion and in key overseas markets, a statement said.
The company also noted that sporting legend Leander Paes has joined the company as Strategic Advisor and Ambassador.
Founded in May 2020, by sports industry veteran G Srinivvasan, Sporjo aims to create an ecosystem of half a million professionals to support the Indian sports industry by 2030. Sporjo is a brand owned by Breathe Careers and Consulting Pvt Ltd.
Sporjo offers a trademarked assessment tool that allows participants to decipher a road map based on their skill set and personality, as well as education and training modules led by industry experts across a variety of categories such as Digital and Social media, Data and Analytics, Operations, Sports Science, Coaching etc, to further hone their skills.
“While the Sports industry is in its infancy in India, the landscape has witnessed a significant transformation in the last decade. With the advent of IPL and other subsequent leagues, the industry has seen a massive shift towards investments in sports,” Sporjo founder and CEO G Srinivvasan said.
He added that sports’ lucrative potential is clear with large corporations entering the segment.
“Skill gaps, understanding of the business of sports, and incredible lead times to find the right person ail the employers. With jobs in Sports projected to grow at a CAGR of 6 per cent by FY24, addressing this gap between candidate and employer through assessing, training and eventually placing professionals has been Sporjo’s genesis,” Srinivvasan said.
Leander Paes said the evolution of sports and the refinement of professional athletes over the past few years has created a valid need for skilled professionals that understand the nuances of the industry.
“Sporjo is a brand that has identified this and is making strides to equip the entire Indian sporting industry. I personally am very excited to be associated with a brand that is working towards creating an ecosystem of excellence right from the grassroots level,” he added.