Gaming platform giant, Dream11 raises $225 million from Tiger Global Management, TPG, ChrysCapital and Footpath Ventures in fund raising activities, the company announced on Monday.The Dream11′ valuation is estimated to be valued at $2.5 billion.
Founded by Harsh Jain and Bhavit Sheth in 2008, Mumbai based Dream Sports offers games such as cricket, kabaddi and football and streaming apps like FanCode and DreamX. Its official partners include IPL, the International Cricket Council (ICC) and the National Basketball Association (NBA).
“We are excited to welcome our new partners. As a homegrown Indian company, we are proud to continue adding value to our 10 crore Indian sports fans, investors, employees and the overall sports ecosystem in India. In the last two years, we have grown beyond fantasy sports to sports content, merchandise, streaming, experiences, and there is much more to come. Our vision is to ‘Make Sports Better’ for India and Indian fans through sports technology and innovation”, Harsh Jain, co-founder and CEO, Dream Sports, said.
“We have grown from one to many brands and from 200 Sportans (employees of Dream Sports) to 450 in the last two years. I am proud of our lean yet highly efficient team that has been the driving force behind the creation of ‘Sports Tech’ as a new industry category in India,” said COO and co-founder Bhavit Sheth.
The fundraising comes less than a month after the fantasy league platform bagged the title sponsorship rights for the Indian Premier League (IPL) for Rs. 222 crore after Vivo’s exit.
Get ready for thrilling encounters, high-adrenaline cricket and the best players in action 🏏
7⃣ days to go for #Dream11IPL ❤️
Click here to download the Dream11 app: https://t.co/HRtDZJOmca. @IPL pic.twitter.com/1NwsMrGvFy
— Dream11 (@Dream11) September 12, 2020