EduSports to raise Rs 20-cr VC fund for expansion

Bangalore-based EduSports, which provides end-to-end sports education solutions to K-12 schools, is planning to raise Rs 20 crore to support its expansion plans.

“We are in discussions with venture capital and private equity firms. The fund-raising proceeds will be utilised for expanding our reach, building systems and processes, infrastructure and creating platforms to do the business,” said Saumil Majumdar, co-founder and chief executive officer of EduSports.

The company, founded in 2009 with 10 schools, now has partnerships with 160 schools across 50 cities. It plans to add another 100 schools by next year, and hopes to tie up with education chains like Pearson, Educomp and Radcliffe.

“With the growing awareness on health and fitness, sports education is now receiving demand from both parents and schools,” Majumdar said.

Unlike earlier days, where physical education was once-in-a-week subject for kids, schools are now integrating sports education in their curriculum. Many of the schools that don’t have their own sports infrastructure to train students are opting for outsourcing sports education.

“There are around 75,000 private schools across India. As outsourcing is going to grow in future, we see a great opportunity in this segment,” he added.

EduSports takes care of sports assessments, teacher training and seminars related to sports. It charges between Rs 100 and Rs 200 per student per month.

“Last year, the company recorded a turnover of Rs 4.5 crore, and is targeting Rs 100-crore revenues in the next four years. Apart from training, we are looking at entering new verticals like sports infrastructure and finishing schools,” he said.