The new funds will be allocated towards attracting top talent in AI/ML and engineering to develop cutting-edge solutions, ensuring our leadership in the rapidly expanding sports-tech sector….reports Asian Lite News
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.