Machaxi, a tech-enabled sports startup, has raised INR 4.8 Crore in a Pre-Series A round led by Inflection Point Ventures. The funds will enhance user analytics and sports shopping technology, expand the sports shop vertical, and build the brand.
Machaxi offers technology-enabled sports coaching for kids and state-of-the-art facilities for adults to play sports in their neighborhoods. Additionally, the Machaxi app allows users to shop for sports equipment, making sports accessible and enjoyable for all ages.
“Partnering with IPV has been an incredible experience, and their support will play a pivotal role in accelerating Machaxi’s growth. This collaboration will enable us to enhance our services, expand our reach, and continue our mission to transform India into a sports-playing nation,” said Pratish Raj, Co-Founder.
Founded by Pratish Raj, Tushar Raj, and Ashish Anand, Machaxi aims to transform India into a sports-playing nation. The company offers technology-enabled sports coaching for kids, state-of-the-art facilities for adults, and a user-friendly app for shopping sports equipment.
Investing in the Future of Sports
Ivy Chin, Partner at Inflection Point Ventures, said, “Machaxi steps in to bridge the gap by offering top-notch coaching and progress tracking for children, along with state-of-the-art facilities for adults. Their user-friendly app makes purchasing sports equipment convenient and accessible. The gaming companies’ vision for a healthier India aligns perfectly with IPV’s values, instilling confidence in their ability to foster a thriving community.”
Machaxi’s strength lies in its execution capabilities, which are driven by a founding team with a mix of experience in sports, technology, and business leadership. This blend allows the startup to effectively strategize and implement initiatives catering to sports enthusiasts and casual players.
Notably, Machaxi has significantly increased the revenue of standalone sports centers by rebranding them as Machaxi Sports Centres and leveraging technology to enhance user experience.
As of May 2024, Machaxi achieved a gross revenue run rate of INR 18 crore, maintaining an EBITDA-positive status from the start. With over 50,000 users enjoying its sports facilities monthly, the company offers a wide range of sports, including badminton, swimming, table tennis, football, and cricket.
Machaxi has established itself as a trusted neighborhood sports coaching brand in Bangalore. It uses a scientific and technology-led approach for kids and adults.
Expanding Reach and Influence
Machaxi’s innovative Learn, Play, Shop model has facilitated rapid expansion to 14 sports centers across Bangalore, optimizing capacity utilization effectively. Additionally, the company partnered with Olympian Nisha Millet as the brand ambassador for swimming coaching and membership programs, enhancing its reputation and outreach.
The sports market in India, valued at approximately $ 5 billion in 2024, is expected to expand to around $ 20 billion by 2034, driven by increased sports participation. Currently, sports adoption rates are less than 1 percent, but this is projected to rise to 10 percent by 2034, reflecting a growing interest in sports nationwide.
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