SUMMARY
- Sourjyendu Medda, the co-founder of DealShare, has ventured into sportstech with Sports For Life.
- It has secured seed funding from both individual investors and early-stage VC firm Roots Ventures.
- This startup will invest and support the sports ecosystem in India.
Sourjyendu Medda, the co-founder of the social commerce platform DealShare, has expanded his entrepreneurial journey into sportstech with his latest venture, Sports For Life. This startup will invest and support the sports ecosystem in India, with a focus on providing athletes with the essential tools for success.
Although Sports For Life has not yet announced its official launch, it has managed to secure seed funding from both individual investors and early-stage venture capital firm Roots Ventures.
The governing body of Sports For Life’s main entity, Jambavan Academy, has approved a special resolution to issue 3,000 Seed CCPS, aiming to raise Rs 9.5 crore, as per its regulatory documents.
Roots Ventures contributed Rs 5 crore, while ML Tondon and Sons HUF and Blume Ventures each invested Rs 3 crore and Rs 1 crore, respectively. The remaining funds were contributed by Kunal Shah’s QED Innovation and Himanshu Arora. Following this round of funding, Roots Ventures has emerged as the largest external shareholder with a 12.08% stake, followed by ML Tandon HUF and Blume Ventures. Together, Sourjyendu Medda and Armaan Tandon own 66.83% of the company.
Sports For Life is focusing on establishing sports academies across India, with the objective of enhancing the overall quality of sports in the nation.
Medda, who previously served as a co-founder and board member of DealShare before stepping down in January, has brought on board Armaan Tandon, a former data and operations analyst at Cartesian, as a co-founder of Sports For Life.
A number of well-known startup founders have launched new ventures in 2024, many of which have already secured their initial funding. Notable among these launches include ZeroPe by BharatPe co-founder Ashneer Grover, OppDoor by Flipkart co-founder Binny Bansal, Unikon by Bella Vita founder Aakash Anand, Gabit by Zomato co-founder Gaurav Gupta, Callmatic by Mitron TV co-founder Shivank Agarwal, and Lyskraft and Nurix AI by Cult.fit co-founder Mukesh Bansal.
