IANS | 16 May, 2024
Sports tech company Stupa Sports Analytics on Wednesday said that it
secured Rs 28 crore in a Pre-Series A funding round to fuel its talent
acquisition, global expansion, and product enhancement initiatives.
The round was led by venture capital firms Centre Court Capital and PeerCapital.
"I
am grateful for the enthusiastic support and confidence shown by Centre
Court Capital and PeerCapital. Their backing propels us closer towards
our vision of transforming sports through innovative technology," Megha
Gambhir, co-founder and CEO of Stupa Sports Analytics, said in a
statement.
"With our innovative solutions already being leveraged
by over 15 international federations, we are proud flag-bearers of 'Make
in India' sports tech taking centre stage globally," she added.
The
sports tech firm offers a comprehensive suite of artificial
intelligence (AI)-driven solutions for advanced analytics of player
performance data, broadcasting capabilities and sports digitisation
tools for athletes, sports federations, broadcasters and fan communities
worldwide.
According to the company, the latest funds will be
used to attract top AI/ML and engineering talent to build advanced
solutions that stay ahead of the curve in the rapidly growing
sports-tech industry.
The fund will also power the company's
ambitions to expand globally into markets like the US, the UK,
Australia, and the Middle East while deepening its existing presence in
regions like Europe and Asia.
"Having closely monitored Megha and
Deepak's journey over the past two years, we are highly impressed by
their unwavering dedication to redefining the future of racquet sports,"
said Mustafa Ghouse, General Partner at Centre Court Capital.
With
the new funding, Stupa plans to improve its product offerings to cater
to the expanded sports disciplines portfolio, which includes table
tennis, badminton, and upcoming sports like pickleball and padel, along
with other multi-sport capabilities.
Before this funding round, the company had raised Rs 7.5 crore in seed and pre-seed funding.