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GolfLAN raises $1 mn from YourNest, Africa's iSON Group

Press Trust of India  |  New Delhi 

GolfLAN, an online golf community and marketplace, has raised USD 1 million from existing investors, YourNest Angel Fund and Africa-based iSON Group.

The funds will be used to expand to regions witnessing a surge in interest for the sport, especially in Africa, Middle East and South East Asian countries like Malaysia, Singapore, Indonesia, Thailand and Vietnam, GolfLAN said in a statement.

GolfLAN aggregates over 1,000 golf courses across 40 countries, where golfers from anywhere in the world can book tee apart from finding golf equipment and trainers.

GolfLAN's had raised a maiden investment of USD 1 million in 2015 from YourNest and multiple angel investors.

In the last 4 years, the number of golf enthusiasts in has sharply gone up with about 2 lakh people teeing today compared to 30,000 in 2010.

The potential for growth is exponential with just 300 golf courses across the country compared to more than 15,000 in the US, GolfLAN said.

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Sunteck's promoters hike stake in company to 73.75% * Real estate player today said its promoters have increased their stake in the firm from the current 73.52 per cent to 73.75 per cent.

The company promoters have increased the stake to show confidence in Sunteck's growth prospects and strong fundamentals, a statement issued here stated.

"With strong balance sheet, robust outlook on existing & new pre-sales and cash flow visibility, we are confident that the performance of the company will continue to grow. We are very well poised to capitalise on the several opportunities opening up in the real estate industry," company's Chairman and Managing Director Kamal Khetan said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 10 2016. 17:42 IST