Str8bat is a sports tech platform developing sensor-based wearables for cricket that secured 3.5 million USD from Exfinity Venture Partners in its ongoing series A funding round. This funding round saw the participation of several investors, including Eternal Capital, RTL, VCats Group, Techstars, and SucSEED Indocation Fund. The startup plans to use these fresh proceeds to scale its operations, enhance its performing capability, and boost training or performance tracking for athletes.
The company also intends to use some of this investment to expand its product and develop its market presence. The startup claims to have Rajasthan Royals, SG Cricket, and Cricket Australia as its clients. SG Cricket partnered with the company to launch the world’s first smart willow. The company secured around $517k across six funding rounds since its inception. This includes the seed funding round led by Lead Angels. The founder of Str8bat, Gagan Dada told inc42 in an interview that the small angel change can improve the IPL player’s bat seed by 21 percent and impact speed by 27 percent. This technology aims to democratize sports training by making elite-level feedback available to all players.
The Bengaluru-based firm uses advanced technologies and an AI engine to analyze the stance of batsmen, their movements, and the type of shot. The startup is focused on expanding its services in the UK, the US, and South Africa. The company claims to have its services available in India and overseas offices in Australia. The investment will help the company strengthen its product development and expand its network in the market. Str8bat aims to serve over a million players on its platform within five years. The platform recorded a couple of million shots and around 400 elite-level players using str8bat.
The platform allows the users to connect with the top-notch coaches for feedback. The development came just after the sports-tech market saw increased investor interest. The sports tech startup, SportVot raised Rs 9.4 crore in its pre-series A funding round. Another sports tech firm Khelomore raised $2 million in its July funding round. Inc42 data showed that the Indian sports tech startups raised over $139 million across 29 funding rounds between 2014 and 2022. The company faces competition from other sports tech platforms such as Fancode, Rooter, Catapult Sports, Worldstage, KheloMore, and SportJacks.
Conclusion :
Str8bat is a sports tech startup providing sensor-based wearables for athletes and cricketers. The startup raised fresh capital of 3.5 million USD from Exfinity Venture Partners in its ongoing series A funding round. This funding round saw participation from several investors including existing investors SuucSEED Indovation Fund and Techstars along with Eternal Capital, VCats Group, and RTL.
The company plans to use this amount to scale its operations and enhance its performance capability to provide better training and performance tracking for athletes. The company aims to have over a million players on its platforms within five years. Str8bat competes with other sports platforms like KheloMore, SportJacks, and more.
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