UActive Technology Pvt. Ltd, which runs app-based social networking and discovery platform for sports enthusiasts UACTIV, has raised an undisclosed amount in a seed round led by the Hinduja family.
UActive co-founder Atish Chhabria said the capital will be used to upgrade the technology platform, besides scaling up the sales and support teams. “Nearly 50% of the money will go into tech development, while 30% will be for online and offline marketing,” he said.
Chhabria, however, refused to divulge the name of the other high net worth individual who had participated in the round, or the amount raised.
The company was founded by former Ambit Corporate Finance executive, Chhabria, and Bhavik Mehta, who had a stint with HSBC Securities, in June 2015.
The UACTIV app allows its 3,000-plus active users to…