The capital will fund the opening of the company’s first set of flagship stores and its pan-India ecommerce platform
PlayBlue, an omnichannel multi-brand sports retail platform, has notified the close of its USD 2.7 million seed round, co-led by Centre Court Capital and MIXI Global, with participation from WEH Ventures.
The capital will fund the opening of the company’s first set of flagship stores and its pan-India ecommerce platform. The company has set a target of Rs 100 crore in revenue and profitability in its first phase before the next fund raise, aiming for operational profitability.
Over the next five years, the company plans a network of over 150 stores, a community of more than 10 million users and annual revenue above Rs 5,000 crore. The rollout begins with a 15,000 square feet flagship in Bengaluru, followed by destination stores in landmark high streets and premium malls in Mumbai and Delhi NCR. The ecommerce platform will deliver nationwide from day one, the company said.
“India is moving from a nation that watches sport to one that plays it, and that shift needs infrastructure beyond stadiums and screens. PlayBlue exists to give every athlete and everyday player a trusted place to discover the right product. We believe the next 30 years belong to India in sports,” said Satyam Trivedi, Co-founder, PlayBlue.
Founded by Satyam Trivedi and entrepreneur Jayam Vora, PlayBlue is being built as an omnichannel brand at the centre of India’s sports ecosystem. The platform brings more than 100 global and homegrown brands across athleisure, footwear, equipment and nutrition into curated experiential stores, backed by a single digital platform with expert buying guidance, unified inventory and quick delivery.
“Our thesis has always been that India’s sports ecosystem will be built by operators who understand it from the inside. Satyam and Jayam have spent their careers doing exactly that, and organised retail is the missing layer connecting brands, athletes and fans. PlayBlue fills that gap,” said Mustafa Ghouse, Founder and General Partner, Centre Court Capital.
