Asia
Sporjo secures $2 Mn in Pre Series A Funding
– 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.”
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Onlyplay has entered into a strategic partnership with online casino and betting company Ritchie Rabbit within the Asia region.
Ritchie Rabbit is said to have “extensive expertise and deep understanding of the Asian market,” which helps Onlyplay as it seeks to expand its presence in the region.
Through this deal, Onlyplay will introduce a range of games and features designed specifically for the Asian gaming community.
Onlyplay offers a wide range of games such as instant win, slots and crash games, and will now provide games for players in Asia.
Christina Muratkina, CEO of Onlyplay, said: “It is a great pleasure for us to develop the Asian region alongside Ritchie Rabbit. We recognize the immense potential of the Asian market and are committed to delivering top-notch gaming content and experiences to players in the region. This partnership represents a significant step forward in our efforts to offer innovative and engaging games that resonate with our Asian audience.”
The post Onlyplay Enters into Strategic Partnership with Ritchie Rabbit appeared first on European Gaming Industry News.
Hub88 has partnered with live casino supplier LiveGames, further strengthening its product offering by adding a unique range of content to its platform.
LiveGames provides fully customisable online live dealer games and branded tables including the first vertical roulette table in the sector, along with crash games and the widely played Tombola.
The supplier delivers experiences with a player-focused design, easy to use mobile interface, and high-resolution broadcasts.
The partnership will support LiveGames’ goal to further expand in international markets, including Africa, Asia, and Latin America where Hub88 has a strong presence.
The deal showcases Hub88’s commitment to grow its ecosystem of partners, offering a diverse portfolio of products and content.
Ollie Castleman, Head of Hub88, said: “We’re thrilled to unveil this strategic partnership with LiveGames which sees us add a great provider to our platform, one that utilises modern technology to offer bespoke and personalised gaming experiences to players.
“We are looking forward to collaborating and strengthening our content library with their diverse games.”
The LiveGames Team said: “Our journey started in a small studio and as a team, we are excited about now expanding to every corner of the world together with Hub88 and their extensive operator network.
“We are committed to promoting innovation in the industry and this partnership will support us on that mission.”
The post Hub88 partners with LiveGames to enhance content offering appeared first on European Gaming Industry News.
Indonesian President Joko Widodo has chaired a limited meeting which discussed the efforts taken to eradicate online gambling in the country on Thursday 18 April, at Merdeka Palace in Jakarta. Minister for Communication and Information Technology Budi Arie Setiadi, in his press statement after the limited meeting, said that the Government will form a task force to counter online gambling.
“It has been decided that within a week, we will formulate measures to form an integrated task force in order to eradicate online gambling,” Budi said.
Minister for Communication and Information Technology mentioned that forming a cross-ministries/institutions task force is aimed to handle online gambling more thoroughly, collaboratively and efficiently.
“Gambling is an illegal act based on regulations. So, we need to impose measures effectively to settle it,” Budi stated, adding that his ministry will focus on handling online gambling websites and contents, while the law enforcement officers will enforce the law.
“Our authority is only to take down the websites, while the Financial Services Authority (OJK) blocks their financial accounts, and then followed by law enforcement officers, police officers, and the public prosecution service officers,” he remarked.
Similarly, OJK’s Chairperson of Commissioner Board Mahendra Siregar also highlighted the importance of holistic measures in eradicating online gambling in Indonesia.
“Some online gambling activities are not conducted in Indonesia, some are cross-borders, some do not use bank accounts, some needs to be tracked and traced through bank accounts, including transfers and so on. So, the next layers must also be addressed, and that way it leaves no empty rooms,” Mahendra explained.
Mahendra said that according to the institution’s authority, from the end of 2023 to March 2024, OJK has blocked around 5000 bank accounts that indicate its relation to online gambling.
“So far, we have cooperated closely with Communications and Information Technology Ministry. So, if we receive a list of bank accounts suspected to be used or are being used in online gambling activities, we immediately block them, and it has reached up to 5000 bank accounts,” Mahendra mentioned.
The post Indonesian Govt to Form Task Force to Tackle Online Gambling appeared first on European Gaming Industry News.
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