Machaxi, a tech-enabled sports startup, has raised ₹4.8 crore in a pre-Series A funding round led by Inflection Point Ventures (IPV).
The fresh funds raised will be used to develop technology for user analytics and sports shopping, expand the sports shop vertical, and build the Machaxi brand.
Pratish Raj, Co-Founder, Machaxi, said, “We are thrilled to announce our latest round of funding, led by Inflection Point Ventures and Ankit Nagori (Co-Founder Cult.fit and Founder Eat.fit). 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.”
Ivy Chin, Partner, Inflection Point Ventures, said, “It has become increasingly challenging for adults and parents to access affordable, quality sports coaching within urban residential areas. Recognizing this need, 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. Additionally, their user-friendly app makes purchasing sports equipment convenient and accessible. Through these comprehensive offerings, Machaxi demonstrates a strong commitment to customer satisfaction and care. Their vision for a healthier India aligns perfectly with IPV’s values, instilling confidence in their ability to break barriers and foster a thriving community for all.”
Founded in 2019 by Pratish Raj, Tushar Raj and Ashish Anand, Machaxi provides technology-enabled sports coaching for kids, offers state-of-the-art facilities for adults to play sports in their neighbourhoods, and offers an app that allows users to shop for sports equipment. Machaxi makes sports accessible and enjoyable for all ages while promoting a healthier and more active lifestyle across the country.
Machaxi increases the revenue of standalone sports centers by 2-3 times by rebranding them as Machaxi Sports Centres and leveraging technology to drive demand and enhance user experience.
As of May 2024, Machaxi has achieved a gross revenue run rate of 18 crore INR, maintaining an EBITDA-positive status right from the start. The company’s extensive reach is evident with over 50,000 users enjoying Machaxi’s sports facilities monthly. These facilities cover a wide range of sports, including badminton, swimming, table tennis, football, and cricket, demonstrating Machaxi’s capability to cater to diverse sports interests and its strong presence in the sports sector.
Machaxi has successfully established itself as a trusted neighbourhood sports coaching brand in Bangalore, distinguished by its scientific and technology-led approach to coaching for both kids and adults. The company’s innovative Learn, Play, Shop model has facilitated rapid expansion to 14 sports centres across Bangalore, optimizing capacity utilization effectively.
Additionally, the company has strengthened its presence by partnering with Olympian Nisha Millet as the brand ambassador for swimming coaching and membership programs, enhancing its reputation and outreach within the sports community.
