New Delhi-based Time of Sports Networks Pvt. Ltd, which provides sports consultancy services, has raised an undisclosed amount of funding from Sandeep Arya, managing director at Amtrak Technologies Pvt. Ltd, it said in a statement.
The startup will use the funds to expand its sports consultancy operations and develop a mobile app which will enhance converge of sports and fitness activities, it said.
A portion of the funds will also be used to launch a STEM-based challenge – F1 in Schools – in India. STEM refers to science, technology, engineering and mathematics.
F1 in Schools is an international STEM competition for school children aged between nine and 19 years wherein groups of three-six students design and manufacture a miniature a ‘car’ out of the official F1 Model Block using CAD/CAM (computer-aided design/computer-aided manufacturing) design tools. F1 in Schools is a brand associated with Formula One motor racing event.
“We are carving befitting sports solutions and building a work group. India is emerging in the business of sports and we are at the opportune moment of this era,” said Yashraj Singh, CEO and founder, Time of Sports.
Founded in 2014 by Singh and Mansi Banga, Time of Sports has developed proprietary platforms like NCR Games, Corpwarriors and Indian Fitness Festival. It also conducts sports days, leagues and marathons involving corporates and schools.
Both Singh and Banga previously worked with Finnish data networking and telecommunications equipment firm Nokia Networks.
Sports apps are gaining momentum in the country. In May, UActive Technology Pvt. Ltd, which runs app-based social networking and discovery platform for sports enthusiasts UACTIV, raised an undisclosed amount in a seed round led by the Hinduja family.
In March, New Delhi-based India Sports Flashes Pvt. Ltd, which operates sports content app Sports Flashes, raised an undisclosed amount in angel funding from Vikas Bajaj, joint managing director, Bajaj Motors Ltd; and Amit Kharbanda, founder, MyBox Technologies Pvt. Ltd.
Earlier this year, mobile-based social platform for sports Khel Now raised $500,000 from Bangkok-based investment firm Indochine International.
Other online-to-offline sports startups that raised funding include Athletto, Play Your Sport and goSporto.[“Source-vccircle”]