Ashwin Damera, CEO of edtech unicorn Eruditus has on November 16 invested an undisclosed amount in digital sports platform, KheloMore. According to a statement, the investment was made through his family office, Damera Ventures.
KheloMore was founded by former international cricketer and CEO Jatin Paranjape in 2017. It works as an aggregator of coaches and academies across Indian cities for sports such as cricket, football, badminton, and basketball, among others.
In a statement, Bhagyashree Damera, co-founder of Damera Ventures and Ashwin Damera's wife said they are both avid sports enthusiasts and share Paranjape's "vision of making sports more accessible" to more Indians. "We are excited to partner with KheloMore to build a broad-based sporting culture across India. Sports and wellness are essential for the holistic development of the nation,” she added.
“India will undoubtedly be amongst the biggest sports-participating nations in the coming years, and KheloMore will play a pivotal role in this exciting journey. We are happy to welcome the Dameras to this journey,” Paranjape said in the statement.
Paranjape made his Ranji debut in 1992 and is known for his performance for India in 1998, in Toronto. However, he had to take a back seat as a player after he injured his ankle.
Other investors of the Mumbai-based start-up are gaming unicorn Dream11 which invested in the company back in 2021.
Moneycontrol reported on the development on September 1. Fantasy gaming app Dream11 invested with a put and a call option giving it the ability to acquire the company at a later stage. The exact size of the deal could not be ascertained at the time, but it was expected to be around $4-6 million.
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