[Funding alert] Fan engagement platform SportZchain secures $400K in Pre-Seed round
SportZchain aims to use this funding on building its alpha version of an interactive blockchain-based web app and drive awareness around its offerings.
Wednesday October 27, 2021,
2 min Read
, India’s first blockchain-based fan engagement platform to connect fans and sports teams, has recently closed Pre-Seed funding of $400,000.
The round was led by Darq Capital, a new-age VC fund investing in crypto/blockchain-based ventures, and other investors such as Jagadeesh Atukuri, Director of Comply Dot, and SHISAN Investments (founded by five partners including former COO of Goldman Sachs) also participated in this round.
According to the official statement, SportZchain will utilise these funds on two fronts: building its alpha version of an interactive blockchain-based web app and implementing branding and marketing initiatives to drive awareness around its unique offerings.
Speaking about the new development, SportZchain spokesperson said, “We are delighted to close our pre-seed funding round successfully. We are also proud to attract relevant investors like Darq Capital, Comply Dot, and Shisan Investments, who believed in our idea and the long-term vision to create a disruptive fan engagement platform that can benefit multiple stakeholders."
Ideated in March 2021 and founded by Siddharth Jaiswal, Singapore-based SportZchain is a blockchain-powered platform for fans to crowd-manage their favourite teams, games, leagues, events, and more. A platform that provides fans with a direct power to not only follow and interact but actively engage and participate in various binding and non-binding decisions of the team.
The company is backed by a robust advisory team, comprising leading personalities like Ajeet Khurana (Ex-CEO of Zebpay and Head of Blockchain & Crypto Committee, India), Suhail Chandok (Star Sports TV Presenter, Analyst & Commentator – IPL, ICC Cricket, World Cups, Pro Kabaddi, Wimbledon, etc.), Oksana Belousova (CEO of Fenix Technology), to name a few.
Edited by Saheli Sen Gupta