Dream11's parent firm gets $225 million in fresh funds – valuation could hit $2.5 billion for the gaming unicorn
- Dream11’s parent company
Dream Sportshas raised $225 million from Tiger Global, TPG TechAdjacencies (TTAD), ChrysCapital and Footpath Ventures.
- Dream11’s valuation was projected to hit $2.5 billion with the latest round of funding, according to reports.
- The gaming unicorn had recently become the title sponsor for the Indian Premier League.
Dream11’s long time investor Chinese tech giant Tencent’s stake (10.9/%) was set to come down with this investment. However, the company shared no details about its shareholding.
“We are excited to welcome our new partners, who share our passion for sports and have extensive experience in building highly valuable tech companies in India. As a homegrown Indian company, 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
The 12-year old startup had also recently become the title sponsor for the Indian Premier League.
The gaming startup had become a unicorn in April 2019 after a secondary investment from Steadview Capital, an Asia-focused alternative asset manager. Until 2019, Dream11’s user base grew at a compounded annual growth rate (CAGR) of 230% over three years.
Recently, Dream Sports had announced that it was starting its own merchandising platform.
“We have grown from one to many brands and from 200 Sportans (employees of Dream Sports) to 450 in the last two years,” said Bhavit Sheth, COO and Co-Founder, Dream Sports.
Amitabh Bachchan to be the first Indian celebrity voice for Amazon’s Alexa
Aye Finance founder reveals how he convinced Google to invest in his six-year old micro loans startup