New Delhi-based The Sports Company (TSC) – which offers coaching services in soccer, tennis, basketball and badminton – has hired an investment banker for its first round of external growth funding, a top executive told DEALSTREETASIA.
The Sports Company also offers customised coaching programmes, workshops and training sessions, coach management and facility maintenance among others.
“We are in talks to raise funding for our expansion plans,” Varun Chopra, founder and CEO of TSC, said, adding that “we have given mandate to a Noida-based financial advisor to manage the fundraising.”
A part of the funding will also be used for getting more instructors on board, buying equipment, and for advertising.
Chopra holds a UEFA license in coaching from The County of Manchester- The FA of England.
Started in 2012 as a soccer grassroots & event management company with one center, TSC currently runs four centers. It aims to bring about the development of sports by connecting institutions with top level athletes, their placement and management rights.
Some of the recent deals in this space include sportswear startup ALCIS raising an undisclosed amount of funding from Singapore-based RB Investments. In March, Sequoia Capital China, and CMC Holdings formed a sports investment joint venture to fund and consolidate global premium sports assets.
Prior to that, in February, Global Sports Commerce (GSC), one of the world’s largest sports technology and management group, and its affiliate Techfront International, a supplier of in-stadium LED screens, raised an undisclosed amount in the financing round from BlackRock‘s private credit team to support acquisitions of Screencorp in Australia and Oled & Carniegie in New Zealand.
Around the same time, Nazara Technologies also launched eSports league, a series of organised multi-player video game tournaments. It will also invest Rs 136 crore in the venture.
India has also emerged as the leading international sourcing destination for inflatable balls and other sports goods for international brands such as Mitre, Lotto, Umbro and Wilson, according to an IBEF report. For the 2014 FIFA World Cup in Brazil, Jalandhar supplied 80,000 soccer balls, whereas Meerut supplied training and practice kits such as free-kick dummies, corner flags, cone markers and linesmen flags.