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PARTH JINDAL LEADS FUNDING ROUND IN PadelPark India TO PROMOTE GROWTH OF PADEL SPORT IN INDIA
Mumbai, August 22, 2024: PadelPark India, a comprehensive ecosystem and market leader dedicated to the sport of Padel in India, today received a boost with a fresh round of funding, led by Mr. Parth Jindal, Founder of JSW Sports and Inspire Institute of Sport (IIS).
Padel is a racquet sport with its roots in Mexico. Over the past few years, the sport has gained significant interest in Europe, along with a remarkable surge in its popularity across the globe. The sport’s rapid growth can be determined with the number of courts worldwide increasing from around 10,000 in 2016 to more than 50,000 in 2024 & poised to grow to around 60,000 courts by 2026. Last year alone saw more than 2500 Padel clubs open around the world.
The global padel industry is currently valued at over $2.2 billion, with more than 25 million players spanning 110 countries, and is projected to grow at an annual rate of 22%, reaching $6.6 billion by 2026. Key drivers of this growth include increasing interest in sports, the appeal of trying new activities, endorsements by prominent public figures, and the rising number of international competitions. With 23% of India’s population actively participating in sports, the country presents a significant market opportunity, with 232 million potential padel enthusiasts.
Commenting on his investment in PadelPark India, Parth Jindal, Founder of JSW Sports & IIS said, “PadelPark is building an ecosystem for the sport of Padel in the country, ranging from establishing the necessary infrastructure to creating a coach and student education program to establishing a robust tournament framework. The Founders’ vision of expanding access through innovation and community building aligns perfectly with our own vision of transforming India into a sporting nation. Padel is a fast-growing global sport that I have no doubt will become an Olympic sport in the future and I am excited to work with the PadelPark team to increase the popularity of the sport in India.”
Commenting on the Investment, Ronak Daftary, Co-founder, PadelPark said, “We are excited to have Parth & his team on board with us and share his vision of making India the largest producer and distributor of Padel courts in the world. We firmly believe that Parth is the right person to help regulate the sport in India.”
Headquartered in Mumbai, and self-funded since its inception in 2020, PadelPark India is committed to being at the forefront of the growth of Padel infrastructure in India and Asia through a strategic partnership with Sky Padel, a leading Spanish organization. The company also operates the Indian Padel Academy, which offers coaching and training both at a grassroots and advanced level providing players in India an opportunity to compete at an International level.
PadelPark’s co-founders — Ronak Daftary, Jigar Doshi, Nikhil Sachdev and Pratik Doshi — bring extensive experience in managing sports infrastructure and share a profound passion for promoting sports adoption across India.
Currently, PadelPark India operates 11 padel courts in Mumbai and has constructed over 22 courts for various sports clubs, hotels, resorts, and corporate entities. Some of their notable clients include the Willingdon Sports Club, NSCI club, JSW Inspire Institute of Sport, Marriot Suites and many more. Given its growth focus, PadelPark India plans to establish more than a 100 Padel clubs across the country over the next few years through a combination of its own as well as franchise run centers.
The new funding will be deployed in scaling up their infrastructure, and enhancing the offerings of their academy and events.
PadelPark India are on track to deliver 40 Padel Courts in the next three months, open 15 Padel Centers/clubs in the next 60 days and train 250 people from next month.
PadelPark India will also host the largest on-ground Padel tournament India has seen with 90 teams and top tier sponsors on August 23rd.
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