GolfLan, which operates an online golf community and marketplace, has raised $1 million in its fresh funding round. The investment comes from iSON, an Africa-based IT group, and existing investor YourNest angel fund.
The funding will be used by the company to fuel its expansion to Africa, and South-east Asia through Malaysia, Singapore, Indonesia, Thailand and Vietnam. It will also spend money to strengthen its position in the Middle East.
Last year, GolfLan had raised its first institutional investment round of $1 million from YourNest, along with multiple other angel investors. In July this year, the company acquired Dubai-based golf technology company, StayPrime in a $1 million deal.
Founded in 2013 by Dhruv Verma, GolfLan claims to have aggregated more than 1,000 golf courses across 40 countries. Using the platform, golfers can make bookings to play golf as well as discover golf equipment and trainers. In the past years, the company has grown to 20,000 users and has seen a 400% increase in revenue in the last 18 months.
In a statement released by the company, it said:
The potential for growth is exponential, with just 300 golf courses across the country compared to more than 15,000 in the US. Out of these 300, over 50 have been built in just the last 5 years with around 60% having been built in Tier 1 and 2 towns, highlighting the rapid growth that the sport is witnessing as well as the diverse backgrounds from which the new players are emerging.
Ramesh Awtaney, who is the founder and chairman of iSON Group has also taken up a minority stake in GolfLan. He said,
We believe that the company has great potential to enter the African market in countries like South Africa, Kenya and Nigeria where golf is gaining popularity. Their presence and know-how in these regions will expedite their foray into these markets.
Lately, sports-related startups have gained immense investor traction and raised a significant amount of funding. Athletto, Play Your Sport and goSporto are some of the sports-tech startups that have received funding in last couple of months.