Asia

Sporjo secures $2 Mn in Pre Series A Funding

Published

4 years ago

August 26, 2021

Reading Time: 3 minutes

– First ever online platform to focus on education, training & employability in the Indian sports industry
– Backed by Punit Balan of Punit Balan Group & Punit Balan Studios
– Indian legend Leander Paes on board as Strategic Advisor & Ambassador

Sporjo, an online education, training & employability company focused on sports, announced that it has raised $2 million in a Pre Series A round led by private investor Punit Balan, Chairman Punit Balan Group & Punit Balan Studios, in participation with other private investors. The company will use the funds for expanding its product offerings, improving product experience, scaling its team, driving expansion Pan India and in key overseas markets.

Founded in May 2020 by G Srinivvasan, a sports industry veteran with more than 20 years of experience, Sporjo is a one-stop destination for building a successful career in the Indian sports industry. Based on the tenet of transforming passion into profession in sports, the company aims to create an ecosystem of half a million professionals to support the Indian sports industry by 2030. Sporjo offers a trademarked assessment tool that allows for participants to decipher a road map based on their skill set and personality, as well as education & training modules led by industry experts across a variety of categories such as Digital and Social media, Data & Analytics, Operations, Sports Science, Coaching etc., to further hone their skills.

Says G Srinivvasan, Founder & CEO, Sporjo, “While the Sports industry is in its infancy in India, the landscape has witnessed a significant transformation in the last decade. With the advent of IPL and other subsequent leagues, the industry has seen a massive shift towards investments in sports. Sports’ lucrative potential is clear with large corporations entering the segment. However for a market estimated at INR 100 billion, Sports India contributes 0.1 percent to the GDP compared to the global average of 0.5%. This indicates tremendous potential for expansion.

Challenges exist for both candidates and employers. A lack of credible sources, information and knowledge is a major hurdle for the candidates. Skill gaps, understanding of the business of sports, and incredible lead times to find the right person ail the employers. With jobs in Sports projected to grow at a CAGR of 6% by FY24, addressing this gap between candidate and employer through assessing, training and eventually placing professionals has been Sporjo’s genesis.”

Punit Balan, Investor, “What Sporjo is doing for the Indian sports industry is transformative. With the Indian sports market poised for growth, there is an ever-growing need for professionals in the industry. Having backed athletes as well as a few teams over the years, I am acutely aware of the gap that exists in recruiting the right talent. It is also the right time to start educating parents, children and professionals about the varied careers that exist in the sports industry and providing them with a roadmap backed with an action plan. I am very proud to back innovators like Sporjo that provide that solution while empowering & building a community of sports professionals. I believe in their vision and I look forward to their continued growth and evolution.”

Leander Paes, Strategic Advisor & Ambassador, “In the journey of a career spanning 31 years, I’ve had many learnings and one of my greatest understandings has been that having that right group of skilled professionals by your side to aid your success can make all the difference between winning and becoming a champion. The evolution of sports and the refinement of professional athletes over the past few years has created a valid need for skilled professionals that understand the nuances of the industry. Sporjo is a brand that has identified this and is making strides to equip the entire Indian sporting industry. I personally am very excited to be associated with a brand that is working towards creating an ecosystem of excellence right from the grassroots level. Becoming successful isn’t random or a matter of luck, it’s a mindset and through this association I hope we are able to aid and create an ecosystem that breeds successful individuals in the field of sports across all mediums.”

Asia

PAGCOR Enforces Accreditation for All iGaming Service Providers by 2026

Published

4 days ago

October 15, 2025

Niji Narayan

pagcor-enforces-accreditation-for-all-igaming-service-providers-by-2026

Reading Time: < 1 minute

The Philippine Amusement and Gaming Corporation (PAGCOR) has given gaming affiliates, developers and support service providers until early 2026 to comply with its newly implemented B2B Accreditation Framework, a regulatory system that formalises participation in the iGaming supply chain.

Companies that submit applications by December 31, 2025, will qualify for a three-year initial accreditation, while unaccredited foreign content providers face removal from licensed platforms after March 31, 2026.

The framework, which took effect on October 2, sets mandatory accreditation requirements for all third-party entities providing gaming content, systems or technical support to PAGCOR-licensed operators.

Accreditation covers several categories, including gaming affiliates, game content providers (GCPs) and support service providers (SSPs). Gaming affiliates may act as aggregators that distribute multiple game titles to operators, while GCPs are developers or studios supplying electronic game software or live-streamed content.

Accreditation is valid for two years from the date of PAGCOR Board approval, an increase from the previous one-year term.

Foreign data or content streaming providers that fail to secure accreditation by the March 2026 deadline will have their content deemed “non-compliant and unauthorized.” They may appoint a Philippine-registered company or a PAGCOR-accredited Gaming System Administrator as their exclusive distributor instead of setting up a local office.

PAGCOR has warned that licensed operators using unaccredited service providers may face sanctions.

The post PAGCOR Enforces Accreditation for All iGaming Service Providers by 2026 appeared first on European Gaming Industry News.

Aquisitions/Mergers

Gregorio Araneta to Sell its Entire 57% Stake in PhilWeb to Nexora Holdings and Velora Holdings

Published

7 days ago

October 13, 2025

Niji Narayan

gregorio-araneta-to-sell-its-entire-57%-stake-in-philweb-to-nexora-holdings-and-velora-holdings

Reading Time: < 1 minute

Philippine eGames provider PhilWeb’s principal shareholder Gregorio Araneta Inc (GAINC) is going to sell its entire 57% stake in PhilWeb to Nexora Holdings Inc and Velora Holdings Inc for a total consideration of Php1.8 billion (US$30.8 million), representing 829,574,354 common shares.

GAINC is owned by Gregorio “Greggy” Araneta III, a member of the powerful Araneta family and the brother-in-law of Philippines President Ferdinand Marcos Jr.

Given that the transaction would involve control of more than 35% of the outstanding voting shares of PhilWeb, the buyers will be required to conduct a mandatory tender offer to remaining shareholders to acquire full control of the company as per local laws.

PhilWeb noted that the buyers are closely linked to the company, with current PhilWeb President & Director Edgar Brian K. Ng also serving as President, Chairman & a Director of Nexora, while current PhilWeb Vice Chairman and Director Crisanto Roy B. Alcid is a Director and the Treasurer of Nexora.

The post Gregorio Araneta to Sell its Entire 57% Stake in PhilWeb to Nexora Holdings and Velora Holdings appeared first on European Gaming Industry News.

ArenaPlus

DigiPlus Announces Partnership with Bayad

Published

7 days ago

October 13, 2025

Niji Narayan

digiplus-announces-partnership-with-bayad

Reading Time: 2 minutes

DigiPlus Interactive Corp. (DigiPlus), the pioneer in digital entertainment in the Philippines, announced an exclusive partnership with Bayad, a trusted authority in bills payment services, to expand over-the-counter (OTC) or physical payment options for players of BingoPlus, ArenaPlus and GameZone.

The partnership was formally signed on October 8, 2025, led by top executives from both companies: Eusebio H. Tanco, Chairman of DigiPlus; Jasper Vicencio, President of AB Leisure Exponent Inc., a subsidiary of DigiPlus; Ray C. Espinosa, Chairman of Bayad; and Lawrence Y. Ferrer, President and CEO of Bayad. The agreement is effective immediately, making DigiPlus Bayad’s only gaming partner for OTC cash transactions.

Through this collaboration, DigiPlus customers gain access to Bayad’s extensive network of payment touchpoints, present across 800+ Bayad Center branches and Bayad Partners in malls, supermarkets and convenience stores nationwide.

Bayad is accredited by the Bangko Sentral ng Pilipinas (BSP) as an Electronic Money Issuer (EMI). DigiPlus partners only with BSP-accredited payment channels in accordance with the requirements of the Philippine Amusement and Gaming Corporation (PAGCOR), ensuring that all player wallet transactions are processed through secure and compliant payment platforms.

BingoPlus, ArenaPlus and GameZone players can now make cash-ins or deposits through Bayad. Additional features including cash-outs or withdrawals and access through the Bayad App will be rolled out in next phases, providing DigiPlus customers with more options to manage their funds conveniently and safely.

“At DigiPlus, our priority is to deliver engaging entertainment while ensuring safe and reliable services for our players. This partnership with Bayad provides customers with more secure and convenient ways to manage their transactions, reinforcing our commitment to player protection and dependable service at every touchpoint,” said Eusebio H. Tanco, Chairman of DigiPlus Interactive Corp.

“Today, we take another meaningful step forward through our partnership with DigiPlus. Together, we’re expanding access to digital channels and offering new, engaging, and responsible ways for Filipinos to experience convenience and entertainment made possible by accessible and inclusive financial services,” said Atty. Ray C. Espinosa, Chairman of the Board at Bayad.

The Bayad payment channels partnership adds to DigiPlus’ growing customer service network and player support, which already includes its in-house 24/7 customer support, 130+ physical BingoPlus stores nationwide and a surety bond for player wallets. These expanding service touchpoints reflect DigiPlus’ continued commitment to delivering digital entertainment with safe, reliable and accessible service for Filipinos.

The post DigiPlus Announces Partnership with Bayad appeared first on European Gaming Industry News.