Spolto secures $350K in seed funding, positioning it for rapid growth and expansion

PUNE, India - June 18, 2023 - PRLog -- Spolto, a leading player in the sports ecosystem in India, is excited to announce the successful completion of their seed funding round of $350,000. Even though the valuation is not disclosed, it is expected to be in the range of $5,000,000 - $7,000,000. This significant investment will fuel Spolto's expansion plans in Mumbai and support its initiatives to make sports accessible to the masses through both technology and grassroots activities. This investment also underscores a strong belief in the Indian sports tech market, and what looks like a very promising future for Spolto.

"Our successful seed funding round is a significant milestone for Spolto, underscoring the immense market potential in India and our unwavering belief in their team," said Gabriel Ghavami, a Swedish investor in Spolto.

The secured funding will be utilised to drive ambitious grassroots sports initiatives, with a particular emphasis on football. Spolto is dedicated to empowering aspiring athletes and nurturing their talents. In the upcoming months, Spolto will launch a player initiative that provides a platform for young football players to showcase their skills, get access to sponsorships, trials with domestic clubs and even have a chance to showcase their skills abroad.

Furthermore, Spolto plans to leverage the funding to continuously launch new features and expand initiatives where the market has responded positively. Some of these include a subscription model for sports advisory, on-boarding coaches for private coaching services and creating more opportunities for their partners that includes, but is not limited to, sports academies in Pune and Mumbai.

"We are thrilled about the future of Spolto as we drive positive change in grassroots sports," said Safa Soltani, Founder of Spolto. "The funding we have secured will enable us to innovate and create exceptional value for our users. We remain steadfast in our belief and commitment to empowering aspiring athletes, coaches and others in the sports community."

Spolto has witnessed remarkable achievements in its growth trajectory. Notably, in 2023, the company experienced an impressive revenue surge of 200% in January vs. April. Also, from Q2 2022 till date, the company's month-on-month organic traffic has seen an average growth rate of 25% .

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