ServeClub, a pickleball equipment brand based in India, recently secured seed funding from Manish Poddar (Co-Founder, Rare Rabbit), Pratham Mittal (Founder, Masters' Union and Tetr), and Malika Sadani (Co-Founder, The Moms Co.) The funds will be used for sports product development and improve both online and offline sales in India.
- ServeClub secures seed funding from top investors to boost pickleball product development and improve both online and offline sales in India.
- The India-based pickleball brand offers USAPA-approved paddles at 50-60 percent lower prices than global competitors.
- With a CAGR of 26 percent in India, ServeClub aims to grow via D2C sales and community engagement events.
ServeClub was started by a group of students, who come from the US, Cuba, Mexico, Germany and India, that studied at Tetr College of Business. ServeClub sells USAPA-approved pickleball paddles between Rs. 7000 and Rs. 9000 which is 50-60 percent lower than overseas brands that are often priced at Rs. 15000+.
ServeClub stated that it has partnered with over 25 entities including courts, clubs and fitness brands, expects to increase monthly sales 20-25 percent in the next two quarters and expand via direct to consumer strategy and community engagement events.
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According to market research, Indian pickleball market has a CAGR of 26 percent with over 50,000 players. The global market is expected to grow to $1.59 billion by 2031.
Recently, sneaker brand Gully Labs has raised a total of Rs 8.7 crore - which comprises Rs 7.6 crore in equity and Rs 1.1 crore in venture debt. Zeropearl VC led the equity round, with participation from Untitled Ventures, Atrium Ventures, and leading angel investors such as Vivekananda Hallekere (co-founder & CEO of Bounce), Suhasini Sampath, Nishchay AG, Ashutosh Valani (founder of Renee Cosmetics), Anurag Ramadasan, and Rahul Seth, while Stride Ventures led the debt round.
