Dream Sports, the parent company of the Indian Premier League 2020 title sponsor Dream11, has raised a funding of $ 225 million.
Dream Sports has announced the completion of a primary and secondary investment led by Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital and Footpath Ventures worth $225 Million.
Dream Sports, other than India’s leading fantasy sports platform Dream11, also has in its portfolio FanCode and DreamX.
“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. Our vision is to ‘Make Sports Better’ for India and Indian fans through sports technology and innovation,” says Harsh Jain, CEO and Co-Founder, Dream Sports said,
Bhavit Sheth, COO and Co-Founder, Dream Sports, added, “We welcome our new partners in this phase of our growth. We have grown from one to many brands and from 200 Sportans (employees of Dream Sports) to 450 in the last two years. I am proud of our lean yet highly efficient team that has been the driving force behind the creation of ‘Sports Tech’ as a new industry category in India.”
Talking about this development, Akshay Tanna, Managing Director, TPG said, “The sports sector has high growth potential in India. There is a significant opportunity to enhance the fan experience and we are excited to partner with Dream Sports to leverage technology in ways that will deepen the connection between Indian fans and the sports they love.”
Commenting on this development, Kshitij Sheth, Vice President, ChrysCapital, said, “Dream Sports is the largest and fastest-growing Sports Tech platform in the country with a phenomenal track record. ChrysCapital is excited to be a part of their vision to transform the way sport is consumed through technology and innovation.”
₹ 400 CRORE IPL SPENT
Dream Sports premier brand Dream11 will be the biggest spender and the most visible brand on the Indian Premier League Season 13. The fantasy sports platform has acquired has replaced VIVO as the IPL title sponsor with a successful ₹ 224 bid. Besides, the company is also one of the five co-presenting partners for the IPL LIVE broadcast on Star Sports network. The team has also invested heavily in various sponsorships with the IPL franchisees for the logo presence on the team kits.
A completely homegrown company founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports is headquartered and located only in Mumbai. Avendus Capital was the exclusive financial advisor to Dream Sports on the transaction.