Sports retail startup PlayBlue has raised $2.7 million in seed funding as it prepares to launch its first stores and a pan-India e-commerce platform.
The round was co-led by Centre Court Capital and MIXI Global, with participation from WEH Ventures.
PlayBlue, co-founded by Satyam Trivedi and Jayam Vora, is building an omnichannel, multi-brand sports retail platform for athletes, fitness enthusiasts and recreational players.
The startup plans to bring together more than 100 global and Indian brands across categories including athleisure, footwear, sports equipment, recovery products and nutrition. Its rollout is expected to begin with a 15,000 sq ft flagship store in Bengaluru, followed by stores in Mumbai and Delhi NCR. The online platform will offer nationwide delivery.
PlayBlue is targeting Rs 100 crore in revenue and profitability in its first phase before raising further capital.
Over the next five years, the startup plans to expand to more than 150 stores, build a community of over 10 million users and reach annual revenue of more than Rs 5,000 crore.
“India is moving from a nation that watches sport to one that plays it, and that shift needs infrastructure beyond stadiums and screens,” said Satyam Trivedi, co-founder of PlayBlue.
“PlayBlue exists to give every athlete and everyday player a trusted place to discover the right product. We believe the next 30 years belong to India in sports,” he said.
Tomoharu Urabe, managing director at MIXI Global Investments, said India’s enthusiasm for sport had not yet been matched by organised retail.
“India’s love for sport is impossible to miss, it cuts across ages and brings whole communities together, and more parents are now bringing their kids into it. What’s been missing is organised retail that matches that energy. That’s the gap PlayBlue is built to close,” he said.
