The co-founders of Intelenet, an Indian outsourcing services provider which was backed by Blackstone in a management buyout few years ago and was sold to Serco last year, have launched a startup for sports education for kids called or kids-out-of-home.
The startup has also got funding from TCS and mortgage lender HDFC, according to a report by The Economic Times. The two investors have picked 15 per cent stake each in KOOH, as per the report. Interestingly, TCS and HDFC were also the early backers of Intelenet.
According to the company’s website, Susir Kumar (also its chairman) and Prabhu Srinivasan (CEO) are the co-founders of the firm. The firm has also roped in Shrikant Hazare as its chief marketing officer. Hazare, who has experience in established players as well as startups n the beverage, entertainment and textile & garment industries, was previously founder and managing director of Prystine Beverages Pvt. Ltd, a non-alcoholic beverage company based in Mumbai.
The startup seeks to get the schools to outsource their sports education to KOOH, which will deliver professional sports training to kids to make sports a viable career option.
The firm counts amongst its board of advisors former Indian cricketer Ajit Wadekar and former Delhi cricket player Sanjeev Sharma. Firms including Edusports, Leapstart and Sportseed also provide outsourced sports education for schools.
Kumar told ET he is in advanced talks with private equity fund and if a deal materialises, the fund could hold 15 per cent stake.
As the lead co-founder, Kumar, who is currently chief executive officer of Serco Global Services(earlier Intelenet) would continue at the existing role at Serco.
(Edited by Prem Udayabhanu)