SucSEED Invests In Sports start-up Str8bat
This round, led by SucSEED Angel Network, has helped this Bangalore-based sports tech firm to start fulfilling ~20,000 pre-orders they’ve received from cricket lovers, professionals, and clubs worldwide
SucSEED Angel Network invests in STR8BAT SPORTS TECH SOLUTIONS PTE LTD, a Singapore registered firm, to expand its horizon into Sports & Analytics Platform. SucSEED invests in Str8bat through this Pre-Series A round, whereas several marquee individual Angel investors had invested earlier, such as Prof. Padmanabhan (INSEAD), Prof. Sameer Hasija (INSEAD), Samit Shetty (Ex-CEO of Chaitanya India Micro Finance), and Gilbery Rodrigues (Director. SiiX-AGT Medtech Pte Ltd).
Str8bat’s IoT-based technology gives real-time actionable insights to budding and professional cricket batters by recording, analyzing and enhancing every aspect of batting while connecting them to the world's best coaches and their peers. Str8bat is backed by some of the stalwarts of the industry and is advised by a very credible Advisory team which comprises of people like James Sutherland (Former CEO Cricket Australia and Current CEO Golf Australia), Greg Chappell (Cricket Legend), Scott Dinsdale (Former Accenture APAC MD and Techstars Mentor), Gilbert Rodrigues (Director. SiiX-AGT Medtech Pte Ltd), Rakesh Chhabra (Managing Partner AARC) With customers like Cricket Australia, Rajasthan Royals, many cricket academies and clubs, it is already helping 2000+ players get better, with 20% of them playing at the pro level. And that has helped them accelerate their B2C outreach. With ~20,000 pre-orders already in the pipeline, str8bat is well-positioned to be a true Game Changer.
Their patented technology, influencer-driven Go-To-Market approach, structured approach to product-market fit and extraordinary B2C demand generation attracted the investors to invest in this high-growth company. This round, led by SucSEED Angel Network, has helped this Bangalore-based sports tech firm to start fulfilling ~20,000 pre-orders they’ve received from cricket lovers, professionals, and clubs worldwide. Str8bat’s palpably humbled CEO Gagan Daga enthused that it’s a testament to the huge untapped market, the product-market fit which str8bat has established, the patented tech, and the rock-star team that has allowed this ‘bat whisperer’ technology to get here. “We’re extremely grateful, and despite the challenges raised by the pandemic, this is a giant leap in our goal of reaching 5 million players, who play the sport with the sole dream of playing better.” Gagan said.
Speaking on why they have invested in Str8bat, Vikrant Varshney, Co-founder & Managing Partner of SucSEED, said “300 Million players above 16 yrs age, play the game of cricket, with 20 Million season ball & bats are getting manufactured in India every year. Smart Sport Equipment are growing by 51% CAGR so Sports Technology is completely an untapped and virgin market for India as there are no solution for the mass segment and we wanted to support Str8bat, which is also led by experienced founders "
Speaking on why is he backing Str8bat, Mridumesh Rai, an Angel Investor with SucSEED, said “With an enriched career in consumer Sector, I assess the start-up with my first question "is there a large enough existing consumer problem that it's solving". Having a physical product gives it a high degree of entry barrier over the competition. Their institutional tie-ups and expert endorsement are testimony to the Product-Market Fit. The clarity and focus of founders is reflected in their choice of Cricket as a starting sport because of its scale and complexity. What further makes it promising is its ability to expand to other ball-based sports and graduate from product to a platform-based coaching solution provider. Exciting times ahead”
Anand Agarwal, an active Angel Investor with SucSEED and a seasoned Tech professional, said “ Str8bat has disrupted the learning process for cricket across multiple countries with simple to use device and application. I firmly believe this platform has the potential to bring cricket coaches and enthusiasts together which can enable young cricketers to seek expert advice from the world’s best experts. Data Analytics platform may have a future role in team selection as well as how cricket viewers perceive cricket players ”. SucSEED Angel Network has invested in around 40 startups in the last 3.5 years and has seen 4 exits in the last 12 months with 2 of them currently work in progress.
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