VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
On 8th May, Sport Covers announced that they had secured around 10 million yuan in their Angel series financing round. Several famous investors including Bright Venture Capital and Great Wall Fund jointly invested in this round. According to Pang Gang, founder and CEO of Sport Covers, the money raised in this round will cover their expenditure of marketing, staff recruitment and building an IT system.
According to Pang Gang, Sport Covers is the first Internet-based company offering sports insurance for people participating in sports. When it was established in late 2015, it obtained around 1 million yuan in the seed round. Pang Gang also reveals that about 6 million people have bought sports insurance from Sport Covers so far.
As well as Sport Covers, there are several companies offering sports insurance in China, such as Suning Insurance, Dubon Insurance and Xiaoyusan. However, as reported by Iyiou, the Chinese sports insurance market is still in its infancy.
Proofread by Sean O Diobhilin
Related coverage
10 Aug 2016
Ali Sports links up with Germany’s Wige Media
25 Feb 2016
Jack Ma-backed China sports video service seeks $3 billion value
31 Jul 2015
Hangzhou Invested 230 million RMB in Asian Games
03 Nov 2015
Malon Sports Net Loss up to 4.226 Million RMB
25 Aug 2016
More from Yutang Sports
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023
SportAccord 2024 - combating online abuse ‘chance for sport to show its power’
22 Mar 2024
Meet the world-class speakers on SportAccord’s Plenary sessions
23 Feb 2024
SportAccord Plenary Conference had fruitful talks about the soft power of sport
17 Apr 2024
SportAccord 2024 - sport as a ‘powerful, transformative tool’ under spotlight at CityAccord
29 Mar 2024
Yutang Sports
loading...