For fairly a while now, the Indian start-up ecosystem has been banking on a brand new breed of buyers within the type of India’s cricket personalities. Led by Virat Kohli’s string of investments, hard-hitting batsman Yuvraj Singh, former skipper MS Dhoni, veteran cricketer Sunil Gavaskar and commentator Harsha Bhogle are all avid start-up buyers.
Within the newest occasion, Dhoni has invested an undisclosed sum in accounting companies supplier, KhataBook. Identical to its literal which means in Hindi, Khatabook app permits small and medium-sized companies to document and monitor their enterprise transaction, digitally.
The app is out there in 11 languages and gives automated backup, which retains the person’s information secure even within the occasion of cellphone theft or malfunction. Dhoni will even turn into Kyte Applied sciences Inc-operated Khatabook’s model ambassador.
“There are numerous new-age firms, only some like Khatabook are making a distinction on the grassroot degree. Having grown up in small-town India, I noticed family and friends wrestle with outdated modes of doing enterprise and monitoring funds. Khatabook has had an outsized impression on the lives of small retailers and retailers,” Dhoni stated.
This funding comes after the start-up raised $25 million (round Rs 176.94 crore) in its Collection A funding spherical in October final yr. The Bengaluru-based start-up stated it would use the proceeds to develop and onboard two crore extra retailers within the subsequent 12 months. At the moment, Khatabook claims to be accessible throughout 5,000 cities within the nation and has recorded money transactions value over 3.7 lakh crore.
With this funding, Dhoni appears to have adorned the cap of an lively investor having invested in a number of start-ups in the previous few years resembling Automobiles 24. Dhoni holds 25 per cent stake in Chennai-based start-up RunAdam Sports activities. Apart from, he has additionally been roped in because the model ambassador of gaming unicorn Dream 11 and ticketing platforms RedBus.
Dream11 has had an ideal run final yr — from turning a unicorn with a billion greenback valuation in April 2019. Its customers additionally swelled to 67 million after IPL in 2019, and was additionally the official companions for the league. Earlier in 2012, Dhoni additionally ventured into the world of economic health by launching a sequence of gyms. He co-founded SportsFit World alongside together with his enterprise supervisor Arun Pandey.
The cricketer’s selection
Dhoni has invested an undisclosed sum in accounting companies supplier KhataBook. The Khatabook app permits small- and medium-sized companies to document and monitor their enterprise transactions on-line.