Latest News | Sports Technology Firm Str8bat Raises USD 3.5 Million
Get latest articles and stories on Latest News at LatestLY. Sports technology company str8bat has raised USD 3.5 million (over Rs 29 crore) in a funding round led by Exfinity Venture Partners, with Shailesh Ghorpade, Founding Managing Partner of Exfinity, taking the board position.
New Delhi, Oct 3 (PTI) Sports technology company str8bat has raised USD 3.5 million (over Rs 29 crore) in a funding round led by Exfinity Venture Partners, with Shailesh Ghorpade, Founding Managing Partner of Exfinity, taking the board position.
The round also saw participation from TRTL, Eternal Capital, VCats group, Techstars and SucSEED Indovation Fund.
str8bat plans to use the capital to accelerate growth, expand into new markets, and continue developing innovative products that help athletes at every level, its co-founder and CEO Gagan Daga said.
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The newly acquired funds will be strategically utilised to deploy 5,000 electric vehicles and develop fulfilment centres across key locations, according to a statement.
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The round also saw participation from Sparrow Capital and angel investors Sujeet Kumar, co-founder at Udaan, and Ramakant Sharma, co-founder at Livspace.
The funding will be utilised to advance product design and development, strengthen manufacturing and supply chain capabilities, and expand to new locations, a company statement said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)