Machaxi, a sports business that utilizes technology, has secured Rs 4.8 crore ($580,000) in a pre-Series A funding round. The funding was primarily provided by Inflection Point Ventures.
The money will be allocated towards the advancement of technology for user analytics and sports shopping, the expansion of the sports shop vertical, and the establishment of the brand.
The startup, headquartered in Bengaluru, had earlier secured $160,000 in a seed funding round in 2022 from prominent angel investors.
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Machaxi offers sports coaching services specifically designed for children and provides people with convenient access to sports facilities in their local communities. Additionally, it provides customers with the convenience of an application via which they may purchase sporting equipment.
Machaxi asserts that it has recorded a gross revenue run rate of Rs 18 crore and has consistently maintained a positive EBITDA position since its establishment. Additionally, it asserts that it has a monthly user base of 50,000. The company’s facilities encompass a diverse array of sports, such as badminton, swimming, table tennis, football, and cricket.
About Machaxi
Founded in 2019 by Pratish Raj, Tushar Raj, and Ashish Anand, Machaxi is a sports company that was founded in 2019 with the aim of providing high-quality sports facilities and coaching in Bangalore.
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