Sports Tech in India

Greetings from Favcy VB,

Throwback to 2022, the Indian Sports Tech industry was valued at INR 142 billion which includes various sectors such as clothing, fitness, coaching, and many more.?

Fast forward to 2024, the Indian startup ecosystem now has 1,549 Sports Tech startups in India, including Nazara Technologies Limited , HealthKart , Dream11 , Games24x7 , Mobile Premier League (MPL) , etc.?

The Indian sports tech market is expected to grow from USD 1.2 billion in 2022 to USD 3.5 billion in 2027. Even the golf tech segment of the Indian sports tech market is expected to grow even faster, with a CAGR of 25-30% in the coming years.

Innovative Indian Sports Tech Startups

Earlier, we used to leverage radios/transistors to get an update on our favorite sports match. We eventually moved to television and now have our beloved OTT platforms like JioCinema for live streaming.?

During this entire process, the Indian startups have played a crucial role and also generated a lot of revenue through advertisements and sponsorships.

We are now witnessing an era where these startups have introduced their gaming platforms by leveraging cutting-edge technologies such as AI, Blockchain, and even 5G for top-notch media broadcasting.?

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Top startups of Sports Tech in India

Dream11

Dream11 is a fantasy gaming platform founded by Bhavit Sheth and Harsh Jain in 2008 with a valuation of more than $8 billion as of 2021. It successfully created freemium fantasy sports in India for cricket, football, hockey, kabaddi, volleyball, handball, baseball, and basketball.?

Dream11 has also been featured as the title sponsor for IPL - Indian Premier League since 2020. Currently, 4 Crore+ active users make Dream11 one of India's largest sports gaming platforms.?

MPL

MPL is a unicorn and is also known as India’s fastest-growing esports application. It lets sports enthusiasts across the country compete with each other.?

As of 2023, MPL’s total valuation was $2.19 billion and it was founded in 2018 in Bengaluru by Sai Srinivas Kiran Garimella & Shubham Malhotra.?

HealthKart

HealthKart was founded in 2011 by Sameer Maheshwari & Prashant Tandon, valued at $370 million as of 2022.?

It is an online store for sports & fitness enthusiasts. It provides a wide range of healthcare products along with a catalog that includes sports nutrition, vitamins and supplements, ayurveda and herbs, food and drinks, gym equipment, and fitness accessories.

Games 24x7

Games 24x7’s valuation as of 2022 is a whopping $2.53 billion and it was founded in 2006 by Bhavin Pandya & Trivikraman Thampy in Mumbai. It’s an online gaming platform offering innovative technology-driven skill games leveraging AI.?

Games 24x7 majorly caters to the B2C space in the Mobile, Gaming, Media & Entertainment market segments.

Sportskeeda

Sportskeeda is valued at $9.1 million as of 2019 and was founded in Bengaluru in 2009 by Anshu Prasad, Porush Jain, Srinivas Rowjee Chuddapah, and Vibhor Kumar.?

Sportskeeda specializes in sports-related content including sports news regarding various categories including cricket, football, tennis, basketball, esports, hockey, golf, MMA, swimming, wrestling, badminton, wrestling, gaming, and motorsports. It generates its revenue through display advertisements on iOS & Android devices.

Revenue Projection

The Indian sports tech industry is booming, this presents a significant opportunity for startups offering innovative solutions. However, analyzing revenue and projections requires considering several factors:

Revenue Streams

• Subscription Model

Popular for ongoing services like fitness apps, coaching platforms, or fantasy sports.

• Freemium Model

Offer basic features for free and premium features for a fee.

• Transaction Fees

Applicable for services like ticketing platforms or online sports merchandise stores.

• Partnerships

Generate revenue by collaborating with sports organizations, academies, or brands.

Projection Factors

• Target Market

Identify your specific user base (athletes, coaches, fans) and spending habits.

• Market Penetration

Consider the competition and how quickly you can acquire users.

• Technology & Innovation

Uniqueness and continuous improvement are crucial for long-term success.

Conclusion

The potential revenue for a sports tech startup in India is high, but achieving those projections depends on a well-defined strategy. Here's what you should consider:

• Clearly define your value proposition: What problem does your technology solve for your target market?
• Develop a sustainable business model: Diversify your revenue streams for long-term growth.
• Focus on user acquisition and retention: Attract and keep users engaged with a high-quality product.

By addressing these points, you can increase your chances of achieving revenue projections for your sports tech startup in the thriving Indian market.