PlayBlue Raises $2.7 Mn In Seed Round For Retail & Ecommerce Expansion
PlayBlue, a multi-brand sports retail platform, on Friday, raises USD 2.7 million seed round, co-led by Centre Court Capital and MIXI Global, with participation from WEH Ventures.The capital will fund the launch of the company's first set of flagship stores and its pan-India ecommerce platform, with a target of Rs 100 crore in revenue and profitability in its first phase before the next fund raise, aiming for operational profitability.
Founded by sports industry veteran Satyam Trivedi and serial entrepreneur Jayam Vora, PlayBlue is being built as an omnichannel brand at the centre of India's sports ecosystem. The platform brings more than 100 global and homegrown brands across athleisure, footwear, equipment and nutrition into curated experiential stores, backed by a single digital platform with expert buying guidance, unified inventory and quick delivery.
Over the next five years, the company plans a network of over 150 stores, a community of more than 10 million users and annual revenue above Rs 5,000 crore.
The rollout begins with a 15,000 sq. ft. flagship in Bengaluru, followed by destination stores in landmark high streets and premium malls in Mumbai and Delhi NCR.
“India is moving from a nation that watches sport to one that plays it, and that shift needs infrastructure beyond stadiums and screens. PlayBlue exists to give every athlete and everyday player a trusted place to discover the right product. We believe the next 30 years belong to India in sports,” said Satyam Trivedi, Co-founder, PlayBlue.
For now, the new funding gives PlayBlue the runway to open its Bengaluru flagship and launch its online marketplace.
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