Dream Sports raises $840Mn at $8Bn valuation
Bengaluru, NFAPost: Dream11’s parent company Dream Sports, has raised $840 million (Rs 6,248 crore) in its latest funding round led by Falcon Edge, DST Global, D1 Capital, Redbird Capital, and Tiger Global, at a valuation of $8 billion.
The company did not mention how it plans to deploy the fresh capital, however, said that it aims to build a broader sports ecosystem in the country, beyond the realm of fantasy gaming.
Dream Sports is working on building a sports ecosystem that includes sports content, commerce, experiences, fan engagement (including sports gaming and e-sports), Web 3.0 solutions, fantasy sports, and fitness tech.
Earlier this year, Dream Sports announced a corpus of USD 250 million through its CVC and M&A arm, Dream Capital.
“Our investors have deep experience in developing sports ecosystems globally, and we are fortunate to have their guidance to ‘Make Sports Better’ for 1 billion Indian sports fans,” CEO & Co-Founder Harsh Jain said.
Dream Sports claims to have a user base of 140 million and houses a bunch of brands such as Dream Capital, FanCode, DreamSetGo, Dream Game Studios, and DreamPay, besides the flagship Dream11.