🏀 Sports matchmaking using computer vision

Start Your Day with YS Buzz: Your 8 AM Snapshot of Today's Top Startup News! 06 March 2024 [View in Browser]( Hello, There's some respite for Indian apps. Google is temporarily [restoring apps]( that it removed from the Play Store due to non-compliance with payment policies. This comes after a group of startups approached the Competition Commission of India to order Google to reinstate the apps. In other news, the RBI has given full authorisation to [Infibeam Avenues]( to operate as a payment aggregator (PA) for its CCAvenue gateway. It joins Amazon Pay, Mswipe Technologies, Juspay, and Zoho which recently received a PA licence. Also, the central bank has directed JM Financial Products to cease and desist from doing any form of financing against shares and debentures, including sanction and disbursals of loans against IPOs, after it found “serious concerns on governance issues”. The move follows the RBI’s crackdown on Paytm Payments Bank and IIFL Finance. Speaking of Paytm, the Financial Intelligence Unit has imposed a fine of [Rs 5.49 crore]( on Paytm Payments Bank and said it failed to put in place an internal mechanism to "detect and report" suspicious transactions and was unsuccessful in conducting due diligence on its payout service. Elsewhere, Swiggy has signed an [MoU with IRCTC]( to deliver pre-ordered food on trains in select railway stations. The service will start in Bengaluru, Bhubaneshwar, Visakhapatnam, and Vijayawada. It is likely to expand to 59 additional city stations in the coming weeks. And lastly, as Facebook and Instagram experienced outages, netizens had a field day on X (formerly Twitter). Take a look at some of these [hilarious memes](. In today’s newsletter, we will talk about - Helping sports players find opponents - The rise of venture debt funding - CIEL Group acquires Courseplay Here’s your trivia for today: What is the world’s spiciest chip, often sold individually in a coffin-shaped box? --------------------------------------------------------------- --------------------------------------------------------------- Startup Helping sports players find opponents adults, finding someone to play with who has the same proficiency in the sport can be challenging. Founded in 2018, Game Theory is a sports-tech startup that helps users find players who match their skill level in a particular sport. The Bengaluru-based startup currently offers athletic matchmaking for badminton, swimming, and squash. Playing smart: - Game Theory first measures people’s skill levels on the court through the computer vision technology available on its smart courts. - Its app allows users to track their performance besides booking games and courts. It also enables users to post the recording of their match on social media. - To build on its matchmaking abilities, Game Theory recently acquired Matchday.ai, a sports analytics company that automates data collection. [Read More]( --------------------------------------------------------------- Funding Alert 1) mPokket: Rs 500 Cr| Debt 2) Ema: $25M| Equity 3) Education Initiatives: Rs 166 Cr | Equity --------------------------------------------------------------- TechSparks The rise of venture debt funding a panel discussion at TechSparks Mumbai, Blacksoil Capital's Ankur Bansal, Alteria Capital's Ankit Agarwal, and Nuvama Asset Management's Pranav Parikh explained that companies that have grown fast have used venture debt to fund their growth. "We feel these [EV and climate tech] are areas where there are huge capex (capital expenditure) requirements involved, especially on the EV side," said Bansal. Funding growth: - In 2023, venture debt emerged as a popular way to raise money among startups. The segment saw a 50% increase last calendar year to touch $1.2 billion, according to a report by Stride Ventures. - "Debt is supposed to complement equity and not substitute... too much of debt can actually harm the business... you need to be careful to see how much debt to raise and if the debt is serviceable," Bansal advised. - "For early-stage companies, you need customised capital...and I think that's what venture debt does. Venture debt is evolving with very nuanced use cases," Parikh added. [Read More]( --------------------------------------------------------------- SheSparks Let's 'womanifest' change together SheSparks is back to inspire, connect, and uplift women thought leaders from across fields. The 2024 edition offers a spectacular lineup featuring Priyanka Gill, Vani Kola, Hena Mehta, Deena Jacob, Dr Geetha Manjunath, and Anisha Padukone, just to name a few. Don't miss this opportunity to learn, grow, and connect with inspiring women! [Grab your ticket!]( --------------------------------------------------------------- From the CapTable Matrix Gas scraps IPO plan, raises fresh funding of Rs 300 crore In July 2023, natural gas aggregation and renewable energy company Matrix Gas and Renewables Limited filed its draft red herring prospectus—a precursor to going public. The listing would have been especially significant for Matrix co-founders Anmol and Puneet Singh Jaggi, as it would be their second time taking a company public. Previously, the Jaggi brothers, who are better known for their electric cab company BluSmart, had taken Gensol Engineering public on the SME bourses in 2019. The plan was to raise nearly Rs 75-80 crore from public market investors via a fresh issue of 5.6 million shares on the SME exchange, NSE emerge. Despite raising a $1 million pre-IPO round last June, however, The CapTable has exclusively learned that Matrix has scrapped its plans to go public altogether.Quite simply, Anmol Jaggi revealed, the company realised it didn’t need public market capital because the private market—yes, the same one that’s in the midst of a protracted funding winter—was more than willing to back the company to the hilt. Indeed, reveals Jaggi, the supposed pre-IPO fundraise swelled from $1 million to $12 million shortly after the company floated its DRHP. Now, with business booming, the company has secured further funding of Rs 300 crore ($36 million), The CapTable has learned. Key Takeaways: - Matrix Gas filed for an SME IPO in July 2023 to raise $10 million but has now scrapped those plans - Instead, the company has fulfilled its capital requirements by securing a total funding of $48 million in what started out as a pre-IPO fundraise - Its popularity with private market investors stems from its successful pivot to gas aggregation in 2021, which saw a surge in the company’s revenues - Expected to clock revenues of Rs 800 crore In FY24, it is also entering the green hydrogen space with a little help from its sibling, Gensol Engineering [Continue Reading]( --------------------------------------------------------------- Acquisition CIEL Group acquires Courseplay solutions provider CIEL Group has acquired Mumbai-based upskilling startup Courseplay for an enterprise value of $2 million in a mix of cash and share swap. Key takeaways: - As a part of the deal, CIEL Group will partly acquire Courseplay Founder Arjun Gupta's stake along with the complete stake of its largest external investor, Inflection Point Ventures. - Gupta will continue as the CEO of Courseplay. After the integration with CIEL HR, 30 employees of Courseplay will join CIEL HR. - CIEL Group now aims to raise a pre-IPO institutional investment round from HDFC Bank and Ambit Capital for organic as well as inorganic growth as part of its expansion roadmap. [Read More]( --------------------------------------------------------------- News & Updates - ["Special ire":]( Four former Twitter executives, including former CEO Parag Agrawal, sued Elon Musk, claiming the billionaire owes them more than $128 million in unpaid severance after he fired them over email shortly after he took over the social media giant. - [Bull run:]( The price of bitcoin has set a record high, rising above $69,000 on crypto exchange Coinbase, a level first touched on November 10, 2021. A continuing massive wave of buying by the newish US-based spot bitcoin ETFs is the likely catalyst behind the historic run. - [Name and shame:]( SpaceX has launched MethaneSat, a washing-machine-sized satellite, which aims to identify the worst methane polluters in the oil and gas industry. It will provide the first near-comprehensive global view of leaks of the potent greenhouse gas and all of the data will be made public. Here's what else we have for you PhonePe’s Indus Appstore crosses one lakh downloads within three days of launch In association with PhonePe PhonePe's Indus Appstore crosses 1 lakh downloads within three days of launch: The rapid adoption of the Indus Appstore showcases the strong interest and need for an app store that aligns closely with the preferences of the Indian consumer. [Know More]( --------------------------------------------------------------- Do app stores have a sustainable business model? Experts confer at Indus Appstore Launch In association with PhonePe Stay ahead in the digital game with insights from the Indus Appstore launch panel discussion! Learn about sustainable app store business models and the future of India's digital landscape. [Know More]( --------------------------------------------------------------- Get, Set, Go: Ascent to empower entrepreneurs in Delhi-NCR In association with Ascent "India is poised to become a 10 trillion-dollar economy by 2030, with entrepreneurs playing a pivotal role in this monumental growth!", predicts Harsh Mariwala. Recognizing the power of peer learning a decade ago, Harsh Mariwala founded ASCENT, with a vision to harness the collective potential of entrepreneurs! ASCENT fosters a community where high-potential entrepreneurs converge to enhance their leadership skills and propel their businesses forward. After successful chapters in Mumbai and Chennai, ASCENT is now launching its Delhi Chapter, signifying the growing recognition of the power of shared experiences among entrepreneurs! [Read More]( --------------------------------------------------------------- Godrej Capital Nirmaan: Fostering collaboration for MSME empowerment through transformative solutions In association with Godrej Capital Building Bridges is a unique initiative by Godrej Capital Nirmaan, fostering collaboration and empowerment for MSMEs. The event brings together corporates, industry leaders, and MSMEs to build partnerships and drive collective progress. Be a part of this exciting journey and help shape the future of Indian MSMEs. Register for the event. [Click Here]( Did you know? What is the world’s spiciest chip, often sold individually in a coffin-shaped box? Answer: Paqui Carolina Reaper chip. We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. 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