Smaaash Entertainment, a sports-based entertainment company co-owned by cricketer Sachin Tendulkar has raised Rs 25 crore from consumer companies-focused investment firm Sixth Sense Ventures.
Nikhil Vora, who heads the venture capital firm Sixth Sense, has joined the company’s board of directors as part of the transaction, while Sixth Sense has picked up a minority stake in the company, reported ET.
Smaaash was started by Shripal Morakhia in 2012 with its first centre of over 40,000 sq. ft in Mumbai. Morakhia is also founder of brokerage firm Sharekhan.
Smaaash owns and operates sports-centric digital entertainment centres for games such as cricket, football, go-karting, bowling and a host of virtual games in cities like Mumbai, Hyderabad, Gurgaon, Noida, and Bengaluru along with the US, China and the Middle East.
In India, Smaaash operates five gaming arcades, which offer a host of gaming options including famous international cricketers like former Australian spinner Shane Warne and former Pakistani fast bowler Shoaib Akhtar.
Smaaash launched the concept in 2013 where algorithm-based techniques and signed up Christiano Ronaldo last year to develop football simulations based on the Portuguese football icon.
In September, the sports-based entertainment company raised Rs280 crore (approximately $44 million) through debt and equity, which was followed by 100 per cent acquisition stake in sports startup SVM Bowling and Gaming to increase its footprint in India, across Hyderabad, Mysore, Madurai, Vijayawada, Mangalore, and Pune.
Earlier in August 2016, the company had raised Rs150 crore from Piramal Enterprises Ltd’s Structured Financing Group. Sports-focused investment firm FidelisWorld through its first fund FW Sports Investment Fund LP invested Rs 65 crore in the startup in 2014.
Besides Tendulkar and Fidelis World, times group owner BCCL is also an investor in the sports startup.