Dream Sports raises $400 mn through secondary share sale
With this new round of funding, Dream Sports, the parent company of fantasy sports app Dream11, is valued at nearly $5 billion
by
Published: Mar 24, 2021 5:51 PM | 2 min read
Follow Us
Dream Sports, the parent company of fantasy sports app Dream11, has raised $400 million from TCV, D1 Capital Partners, and Falcon Edge through a secondary share sale by the firm’s early investors. With this new round of funding, Dream Sports is valued at nearly $5 billion.
The round also saw participation from Tiger Global, ChrysCapital, TPG Growth, Steadview Capital, and Footpath Ventures. Avendus Capital was the financial advisor to Dream Sports on the transaction.
The company raised $225 million from Tiger Global, TPG, ChrysCapital in September 2020 at a valuation of about $2.5 billion in a mix of primary and secondary investments.
“This is a huge vote of confidence to the Indian startup ecosystem. 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. Our growth trajectory is also a testimony to the honourable Prime Minister’s vision of Atmanirbhar Bharat and Digital India,” said Dream Sports co-founder and chief executive Harsh Jain.
"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," said TCV general partner Gopi Vaddi.
Read more news about Marketing News, Advertising News, PR and Corporate Communication News, Digital News, People Movement News
For more updates, be socially connected with us on
Instagram,
LinkedIn,
Twitter,
Facebook,
YouTube
&
Google
News
