Dream Sports, the parent entity of fantasy sports platform and the title sponsor of IPL 2020, Dream11 (1) has acquired AI-based fantasy sports startup FanDuniya.
After the completion of the acquisition this month, the co-founders of FanDuniya, Ramkumar Venkatasubramanian and Viswanath Kommalapati have both joined FanCode, a multi-sport aggregator platform owned by Dream11.
Notably, Dream11 had launched FanCode in March 2019 as a personalized a-free multi-sport aggregator offering news and live match scores. It also provides research-based insights, fantasy sports statistics, game analysis, expert fantasy tips, and access to engage with other sports fans.
The website of FunDuniya is currently inaccessible, which suggests that they are maybe merging it with FanCode’s platform. The mobile app of Fan Duniya is also down from Google Play Store and iOS App Store. However, there are no reports of the acquisition amount.
Dream11, the Only Indian Gaming Startup to Gain Unicorn Status
It is worth noting that both firms are merging this year while the Indian Premier League, IPL 2020 season is ongoing.
Ramkumar Venkatasubramanian founded FunDuniya in 2018 for users who are into fantasy cricket players. It offers the most comprehensive news coverage, statistical tools, and AI-driven models so they can make informed decisions for a fantasy cricket match.
Harsh Jain and Bhavit Seth founded Dream11 in 2008, and in 2020, it became the title sponsor for the Indian Premier League. It is the most prominent startup in the fantasy sports ecosystem in India. The current valuation of over 1 billion USD is the only Indian gaming startup to get unicorn status.
Furthermore, the company claims that it has over nine crore users on the platform. They can play fantasy cricket, football, kabaddi, hockey, basketball, volleyball, American football, handball, and baseball. At present, the company is looking to enhance its offerings via a slew of takeovers.
Online fantasy sports are observing a surge in users in the past three to four years in India. They are held as skilled-based digital entertainment platforms where sports fans can create their own fantasy sports team of real-life players for upcoming matches. If the player picked by the user in his squad performs well in the real game, the user can earn cash prizes and other rewards.