Dream Sports, the Indian sports technology company, which owns the leading fantasy sports platform Dream11 has put its hands in many potential rewarding verticals including FanCode. Dream Sports has a total staff of around 600 employees and is located in Mumbai after being founded by Jain and Bhavit Sheth in 2008. This company had anticipated the sports technology scenario pretty early and worked its way up to become one of the largest online sports entities over the years.
Several investment giants have realised its huge market and have agreed to invest as much as $400 million as a secondary investment led by TCV, D1 Capital Partners and Falcon Edge.TCV is known to invest in highly profitable companies like Netflix, Airbnb, Sportradar and Peloton and will be investing in an Indian company for the first time.
The existing investors like Tiger Global, ChrysCapital, TPG Growth, Steadview Capital and Footpath Ventures also want to put in more money in Dream Sports in order to match the growing market potential of this growing business body and will therefore mark the largest investment in the Indian sports tech ecosystem to date. On the other hand, Avendus Capital acted as the exclusive financial advisor to Dream Sports on the transaction.
“This is a huge vote of confidence to the Indian start-up ecosystem,” said Harsh Jain, CEO and Co-Founder, Dream Sports as reported by the Economic Times. “We have created the fantasy sports category in India to drive digital engagement to real-life sporting events and bring fans closer to the sport they love. We are proud to continually contribute to the overall expansion of the Indian sports ecosystem.”
Gopi Vaddi, General Partner at TCV told ET, “India is home to the world's largest and most energetic sports fan base with a dynamic mix that is unique to the subcontinent. Dream Sports is serving this community with a highly innovative product offering. We are inspired by what Harsh, Bhavit and the Dream Sports team have built, and we look forward to partnering with them.”