Dream11’s parent Dream Sports raises $840 million at a valuation of $8 billion
“Our vision and mission is to create an entrepreneur-led virtuous cycle of investment, innovation and wealth creation for all stakeholders in the sports ecosystem, from fans to athletes, teams and leagues. Our investors are empowered to develop the sports ecosystem globally. We are fortunate to have his guidance to ‘Make Sports Better’ for 1 billion Indian sports fans,” said Harsh Jain, CEO and Co-Founder, Dream Sports, in a statement.
In the gaming sector in India, investments have crossed nearly $1.6 billion in the first nine months of 2021 and have exceeded investments made in the last five years, a report by boutique investment bank Maple Capital Advisors and All India Gaming Federation said on Wednesday. Said to It said that due to the penetration of smartphones, pandemic, increasing internet availability, digital payments etc., the adoption of gaming is being done.
Fantasy sports has seen rapid growth over the past 24 months, with over 100 million gamers playing fantasy sports on the platform, which has been helped by the Indian Premier League and other sporting events in India and globally.
Dream Sports, with an existing user base of 140 million Indian sports fans, is focused on building the world’s largest sports ecosystem comprising sports content, commerce, experiences, fan engagement (including sports gaming and esports), Web 3.0 solutions, fantasy Are included. Sports and fitness techniques.
Earlier this year, Dream Sports further strengthened its commitment to this space by announcing a $250 million funding round through its corporate venture capital and mergers and acquisitions arm, Dream Capital. Dream Capital has built an initial portfolio of 10 companies, primarily focusing on thematic early stage investments in India, including Fitter, Sostronk, Khelomore and Elever. Dream Capital is now expanding its sports, fan engagement and fitness portfolio in India and globally.
Rahul Mehta, Managing Partner, DST Global said, “We are excited to partner with the Dream Sports family in their vision of becoming the leading end-to-end sports tech company in India.” “We are deeply impressed by their customer-centric approach, product strategy and ability to strengthen the relationship between fans and their favorite sports.”
A domestic company founded by Harsh Jain and Bhavit Sheth in 2008, Dream Sports is based in Mumbai and employs around 1,000 ‘sports’.
Avendus Capital was the exclusive financial advisor to Dream Sports on the transaction.
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