Gurugram-based sports and fitness startup Tabono Sports has raised an undisclosed amount of funding in a pre-series A round of funding from Inflection Point Ventures (IP Ventures). The latest development has valued the firm at INR 17 crores. The startup is operational in three cities including Gurugram, Lucknow and Madurai.
With the freshly raised capital, Tabono will focus on expanding its business operations to more tier II and tier III cities and focus on its marketing. Furthermore, the startup will hire a technology team to operate projects across multiple cities and towns in India and inspire more people to run. Tabono was started back in 2016.
“With the current team of professional runners, we are well poised to understand the user requirement and develop solutions catering to their need. Although a lot is happening in the fitness space within the country, marathons seem to be a simple, scalable and economical solution to a large population size,” Mishra said.
Founded by Abhishek Mishra, the startup consults and organizes marathons like Millenium City Marathon, Lucknow City Half Marathon and Madurai 10KM Run. Mishra is also an Ultraman finisher from India and a three-time Ironman triathlete. Under his supervision, Tabono has established itself into an economical running company making fitness options across the nation. Mishra holds a bachelor’s degree in electrical and electronics engineering. He has done post-graduation in marketing and international business and worked at GE Oil & Gas.
“The fitness market in India is evolving, and within that, marathon properties are coming up in a big way. Abhishek’s expertise in this space adds tremendous value to the proposition. We are excited to back him and help him replicate his individual success in this business venture,” said Mitesh Shah, co-founder, IP Ventures and head of finance of BookMyShow.
Inflection Point Ventures is a sub-organization of CXO Genie. Founded by nine CFOs and finance professionals back in 2017, the venture capital firm has earlier invested in another sports startup Sportido. The founding members of the venture capital firm come from the startup ecosystem and are either a co-founder of a successful firm or have led their organizations through various funding stages themselves.