By Abhay Ray 
Introduction
StepOut, a sports performance analysis and ecosystem technology startup, has raised $500,000 in its seed funding round led by Rainmatter, the investment arm of Zerodha, founded by Nithin Kamath. The round also saw participation from IndigoEdge, Marwah Sports Group, and Misfits Capital
What is StepOut and Vision of this Company
Founded by Jeet Karmakar and Sayak Ghosh, StepOut’s Provider of performance analysis solutions for football. It uses AI and machine learning to provide performance data and video analysis for football players and teams. It also offers match analysis, opposition analysis, video highlights and more. Users just upload a video, reducing manual work by 80%. The platform identifies players and tracks every field event with 99% accuracy. StepOut collaborates with clubs like AFC Ajax (Eredivisie) and Rayo Vallecano (La Liga). It is also the first Asian tech company to win the Reimagine Football competition, organized by UEFA, AFC Ajax, The FA, KNVB, and City Football Group.
Rainmatter expressed confidence in StepOut’s vision, stating,”We’re excited to invest in StepOut, a sports analytics company transforming football with accessible and data-driven insights. Their innovation will open up new opportunities for footballers across India and beyond.” Having analyzed over 3,500 matches, covering 2,500 teams and more than 40,000 football players, StepOut continues to make significant strides in revolutionizing sports performance analysis, bringing cutting-edge technology to the forefront of athlete development.
Collaborations with Elite Football Clubs
StepOut is working on talent identification and development in sports through advanced data-driven performance analysis. Currently working with elite clubs such as AFC Ajax from the Eredivisie and Rayo Vallecano from La Liga, the company aims to democratize access to sports analytics, bridging the gap between grassroots and professional levels. “Sports performance analysis technology is typically available only to top-tier teams, leaving grassroots and youth levels underserved. StepOut bridges this gap by making advanced technology accessible and affordable across the entire pyramid,” said Jeet Karmakar, co-founder of StepOut.
By integrating StepOut’s AI-powered analytics into their training and performance evaluations, these clubs are able to gain deeper insights into player movements, game strategies, and overall team dynamics. This partnership not only strengthens StepOut’s reputation within professional sports but also highlights the platform’s potential to bridge the gap between grassroots and elite-level sports.These collaborations with well-established football clubs validate StepOut’s innovative approach and its growing impact on the global sports analytics landscape, further positioning the company as a leader in the sports tech space.
Funding Led by Rainmatter and Misfits Capital
StepOut has successfully raised $500,000 in a seed funding round, led by Rainmatter, the investment arm founded by Nithin Kamath, CEO of Zerodha. Rainmatter has become a significant player in supporting startups that bring innovation to various sectors, particularly in technology-driven solutions. Their involvement in StepOut highlights their confidence in the company’s potential to revolutionize sports analytics through AI and machine learning.
In addition to Rainmatter, the round saw participation from Misfits Capital, which is known for investing in emerging tech-driven ventures. Other investors, including IndigoEdge and Marwah Sports Group, also contributed to the seed round, reflecting the growing interest in sports technology and analytics. The involvement of prominent investors like Rainmatter and Misfits Capital underscores the growing investor interest in sports technology startups, with StepOut being well-positioned to disrupt the sports analytics industry. The capital will also help the startup improve its platform’s functionality and create apps for coaches, analysts, and players.
Globle Market Presence of StepOut
StepOut gained international recognition when it became the first Asian tech company to win the Reimagine Football competition, hosted by UEFA, AFC Ajax, The FA, KNVB, and City Football Group. This achievement led to a pilot project with AFC Ajax, which successfully transitioned into a long-term commercial partnership. Gabriël van Gastel, IT project manager at AFC Ajax, praised the collaboration saying, “For the past three years, we have enjoyed a great partnership with StepOut. Their expertise in AI and machine learning for football data and video analysis has provided valuable insights into player and team performance. The technical quality of their platform has been impressive, and we appreciate their professionalism and innovative approach.”
StepOut Plans
Additionally,StepOut plans to enhance its AI capabilities and further develop its platform, which includes an admin web app for coaches and analysts, as well as a mobile app for players. This funding will be instrumental in supporting StepOut’s efforts to enhance its AI-powered sports analytics platform and expand its reach globally, including into markets like the US, Australia, the Middle East, and Spain.
Conclusion
StepOut raises $500k in seed round marks an exciting milestone in the company’s journey to revolutionize the sports analytics industry. With strong backing from investors like Rainmatter and Misfits Capital, StepOut is poised to accelerate the development of its AI-powered platform, expanding its global reach and enhancing its offerings for both grassroots and professional teams. With a focus on expanding its user base and improving its platform’s capabilities, the startup is well-positioned to disrupt the sports tech space, making advanced analytics more accessible and effective for teams worldwide.
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