Tiger Leads $225 Mn Dream11 Fundraising

Published on 15th Sept, 2020 | 1 min read

Dream Sports, India’s most valuable online gaming startup, has secured $225 million in new funding, led by Tiger Global Management, TPG Tech Adjacencies and ChrysCapital, as investors bet on the country’s nascent but fast-growing e-sports business. Footpath Ventures also invested in the company that runs the Dream11 fantasy sports platform, the startup said in a statement on Monday. “We are proud to continue adding value to our 10 crore Indian sports fans, investors, employees and the overall sports ecosystem in India. In the last two years, we have grown beyond fantasy sports to sports content, merchandise, streaming, experiences, and there is much more to come,” said Harsh Jain, CEO and co-founder, Dream Sport. Parent Dream Sports was valued at $700 million in September 2018, when it raised $100 million from Chinese internet giant Tencent. Gross revenue of online fantasy sports operators has nearly tripled to ₹2,400 crore in the year ended 31 March 2020 from ₹920 crore in the previous year, according to a FIFS-KPMG 2020 report. Apart from offering fantasy gaming, the startup launched a multi-sport aggregator platform for sports fans, FanCode in 2019.