Angel Investments
Sportstech startup Playo raises $500-K from ah! Ventures, others
Bengaluru-based sportstech startup Playo has raised USD 500,000 as a part of its ongoing pre-Series A round from ah! Ventures' High Tables platform and other angels. With a business model focusing on three Cs - Community, Content and Commerce - and 1.5 million users, Playo is said to have emerged as a platform for sports enthusiasts focusing on building micro-communities and enabling sports/fitness related services targeting urban adult users. Currently operational in India, the UAE and Qatar, with ongoing pilots in the UK and Australia, Playo is stated to have enabled three million relationships amongst users and powered 150,000 monthly sports activities. With a pre-Covid annualised run rate of USD 8 million in sales, the startup said it had achieved cash-flow breakeven before being impacted by the pandemic. This is ah! Ventures' 18th investment in 2021. Three more investments are to be announced shortly.
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