SportsNest and Playground Together Raise Funding Round from Blume Ventures
Sportsnest Retail India Pvt. Ltd and Playground Sports India Pvt. Ltd. together raised a fresh round of investment of an undisclosed amount from Blume Ventures. Sportsnest and Playground, operating in the sports and fitness category, are coming together in a unique partnership, building online and offline presence in the sports and fitness category.
Playground runs the leading sports e-commerce website Playgroundonline and has serviced more than 50,000 customers. It will strengthen its focus on categories including cricket, badminton, tennis, football, outdoor and adventure, cycling, running and golf. It also plans to enhance its presence in sports nutrition, apparel, footwear and gym equipment. Sportsnest runs a very strong institutional business catering to the requirements of clubs, schools, academies and corporates focusing on cricket, apparel, footwear, team sports and racket sports.
These two teams coming together will offer enhanced product portfolio, larger inventory, better delivery times, well grounded domain expertise and increased offline and online synergies. Playgroundonline will offer unified online presence and will cater to institutional requirements.
“Blume is very happy to see two great teams merge and two diverse business models emerge that each can become a fairly large business. Blume and the teams also see efficiencies in rationalizing supply chain, taking on interesting new business models such as franchising, distribution of select brands and a pan-india B2B rollout in the imminent future.” Says Kartik Reddy, Managing Partner, Blume Ventures.