MUMBAI: Golf inventory aggregator GolfLan, which offers an online golf community and marketplace, has made its third strategic acquisition, buying Delhi-based deep technology startup Golf Centra in an all-cash deal.
GolfLan is looking to invest over Rs 30 million ($500,000) in the entity to penetrate into the South East Asian markets, Economic Times reports.
Golf Centra, which helps golf courses manage their inventory through a tech platform, will enable Golflan users to get their bookings done through its platform, potentially serving over 10 million golfers and handling over 3 million transactions monthly.
“This acquisition will help us to get ahead of global competitors by over 18 months and generate over $5 million of revenue in the next 12 months. During phase one, we plan to market the application to golf courses in India, Singapore, Sri Lanka, Malaysia, Thailand, Vietnam & Indonesia,” Dhruv Verma, founder and CEO, GolfLan, told ET.
The acquisition follows GolfLAN’s buyout in November of Singapore-based competitor GolfGreedy in a cash-and-stock deal. Last July, the company had acquired Dubai-based golf technology company StayPrime.
Post the transaction with GolfGreedy, GolfLAN was valued at about $12 million.
At around the same time GolfLan acquired GolfGreedy, it was reported that the Delhi-based firm had received a total commitment of $1.2 million from a clutch of investors, including Dubai-based entrepreneur Deven Lakshmi Chand Bebhia. In November 2016, the company had raised $1 million from YourNest Angel Fund and African IT/ITES group iSON. GolfLAN had raised a maiden investment of $1 million in 2015 from YourNest and multiple angel investors.
GolfLAN aggregates over 1,000 golf courses across 40 countries, where golfers from anywhere in the world can book tee apart from finding golf equipment and trainers.
