Ashwin Damera, CEO of Eruditus, finances KheloMore, a digital sports platform
The KheloMore app was established in 2017 by former international cricketer Jatin Paranjape and serves as a directory of trainers and schools for a variety of sports in Indian cities, including basketball, badminton, football, and cricket.
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On November 16, KheloMore received an unknown amount from Ashwin Damera, CEO of edtech unicorn Eruditus. The investment was made through his family business, Damera Ventures, claims a statement.
Jatin Paranjape, the CEO of KheloMore and a former international cricket player, launched the company in 2017. It serves as an aggregator of trainers and schools for various sports, including cricket, football, badminton, and basketball, in Indian cities.
According to a statement from Bhagyashree Damera, Ashwin Damera's wife and co-founder of Damera Ventures, they are both ardent sports fans and agree with Paranjape's "goal of making sports more accessible" to more Indians. "We are thrilled to work with KheloMore to create a widespread sporting culture throughout India. The holistic development of the country depends on sports and wellness, she continued.
"India will surely rank among the top sports-participating countries in the years to come, and KheloMore will be essential to this thrilling endeavour. We're delighted to have the Dameras join us on this adventure, Paranjape added in the release.
In addition to his appearance for India in Toronto in 1998, Paranjape made his Ranji debut in 1992. He was forced to step aside as a footballer, nevertheless, due to an ankle injury.
Gaming unicorn Dream11, which made an investment in the start-up company in 2021, is another investor in the Mumbai-based venture.
App for fantasy gaming Dream11 made an investment with a put and a call option that allowed it to later purchase the company. At the time, it was impossible to determine the precise value of the deal, but it was anticipated to be in the range of $4-6 million.
