On Monday, the parent company of Dream11, Dream Sports (1), announced that is has secured 225 million USD in its primary and secondary investments. The latest fundraising was led by the Tiger Global Management, TPG Tech Adjacencies (TTAD), Chrys Capital, and Footpath Ventures.
Harsh Jain, CEO and Co-founder of Dream Sports, stated that the company is India grown. They are proud to add value to India’s ten crore sports fans and investors. In the two years, the company has grown from fantasy sports to sports content, streaming, merchandise, experiences, and more is coming.
Dream11 aims to “Make Sports Better.”
The Dream11 embarks on its journey to “Make Sports Better” for India and its fans via sports technology and innovation.
The 12-year old firm recently won the title sponsorship rights of IPL. It replaced a Chinese mobile phone company Vivo, with a 222 crore INR bid with a four-and-a-half-month deal.
There are speculations that Dream11 will stay till the IPL 2022, incase Vivo doesn’t make a comeback in the next season. In that case, Dream11 will pay 240 crore INR each for 2021 and 2022. It will make an average of 234 crore INR per annum for the next three years.
In April 2019, the gaming startup became a Unicorn after receiving secondary investment from Steadview Capital. It is an alternative asset manager that focuses on Asia. The user base of the firm grew at approximately 230% CAGR for over three years.
Bhavit Sheth, COO and Co-founder of Dream Sports, stated that they have grown from one to many brands. Dream Sports has now employed 450 people in the last two years from 200.
Harsh Jain and Bhavit Sheth founded Dream Sports, Mumbai-HQ, in 2008. Since then, the started has expanded into multiple branches such as Dream11, FanCode, DreamX, and DreamSetGo in its portfolio.