Golf website raises fund from startup investor

A Delhi-based golf website has been able to raise around $750,000 from an angel fund.

This is the first of its kind of investment in India.

YourNest Angel Fund has put in around $750,000 (Rs. 4.8 crore) in Golflan Technologies Pvt Ltd, which seeks to bring golf to beginners. The money is for expanding the game in India.

Through its website, GolfLan will allow golfers, even non-members, to book tee-times and join learning classes at various clubs.

According to Dhruv Verma, who founded the company the initial funding will be spent on technology and marketing besides expansion.

The company offers subscription services for playing golf sport in several golf courses throughout the world without the need to take a membership in the club.

"There are enough number of people with disposable income who are willing to acquire skills like golf, which also leads to quality networking," said Verma.

The website also offers a marketplace for golf equipment, through third-party vendors, which currently contributes to over 18 per cent of the company's business.

Verma said the company buys tee-time slots of golf courses in bulk and then sells them in individual packages to its website members. The current number of golf courses available is close to 400 and more would be added, he said.

Apart from India, members can play golf in the Middle East, the UK, Thailand, China and Turkey at present.

"Golflan is an attempt to democratise golf which has been a game for a few," said Sunil Goyal, founder and CEO of YourNest. Gurgaon-based YourNest invests in startups.