Dream11 parent co raises over Rs 2,900 crore from investors

According to a statement issued by the Dream Sports, which owns popular brands such as Dream11, FanCode, DreamX, DreamSetGo and DreamPay, this is the largest investment in the Indian sports tech ecosystem to date.

New Delhi: Sports technology and gaming firm Dream Sports has raised USD 400 million (nearly Rs 2,904 crore) in a funding round led by private equity firm TCV, D1 Capital Partners and Falcon Edge.

According to a statement issued by the Dream Sports, which owns popular brands such as Dream11, FanCode, DreamX, DreamSetGo and DreamPay, this is the largest investment in the Indian sports tech ecosystem to date.

Dream11 made headlines last September when it won the title sponsorship of Indian Premier League 2020 for a whopping Rs 222 crore.

For TCV, this is the first investment in India. So far, it has invested in global firms like Facebook, Airbnb and Godaddy.

The round also saw participation from existing investors like Tiger Global, ChrysCapital, TPG Growth, Steadview Capital and Footpath Ventures, Dream Sports said in the statement.

"This is a huge vote of confidence to the Indian start-up ecosystem. We are proud to continually contribute to the overall expansion of the Indian sports ecosystem," Dream Sports CEO and co-founder Harsh Jain said.

A home-grown Indian company founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports is located in Mumbai and employs about 600 people.

According to the data available on the company’s website, the number of users has gone up from a mere 1 lakh in 2014 to 10 crore in 2020.

(With Agency Inputs)