Dream Sports, the parent company of Indian fantasy sports group Dream11, said it has raised $840 million in a funding round, giving it a valuation of $8 billion.
The fundraising was led by Falcon Edge, DST Global, D1 Capital, RedBird Capital and Tiger Global. The round also saw participation from existing investors like TPG and Footpath Ventures, making it amongst the largest investments globally in the sports tech sector.
“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,” CEO and founder Harsh Jain said. “Our investors have deep experience in developing sports ecosystems globally, and we are fortunate to have their guidance to ‘Make Sports Better’ for 1 Billion Indian sports fans.”
Dream Sports said it has a user base of 140 million, its brands include Dream 11, the world’s largest fantasy sports platform.
The firm became India’s first gaming unicorn in 2019.