Friday, March 29

Sports Tech Company Golflan Plans to go Public

A sports tech company called Golflan which is focused on golf announced its plans of going public by 2020 by launching an IPO, expecting its current streak of growing at 100 per cent annually to continue.

It has been stated that the company was on track to close this year with revenues of $6million as against $3million last year. 

“We are breaking even operationally and will look at listing the company once we hit a revenue run rate of Rs 100 crore,” said Dhruv Verma, CEO Golflan.

He has also estimated that Golflan would be at a revenue run rate of Rs 50 crore by 2019, and between Rs80-100 crore by 2020. Also, he is currently in talks with merchant bankers on how they could go ahead with this. 

As of now, the company has been focused on the b2b side of the golf business, and would look at entering the b2c segment with a consumer data focused product next year.

The company was also scouting for acquisition opportunities on the artificial intelligence side and hoped to close something by June next year. “This would be to enter the retail golf side. There’s a lot of data being generated, like the speed of the drive, stance etc. and we’d like to provide a tech platform to individual golfers as well,” he said.

The company initially started as a subscription service has made so far made three acquisitions over the last two years and is now present in various areas. The company currently operates in South Africa and UK, apart from the Middle East and South East Asia, and is prepping up to launch in the US and Canada next year.