Mumbai-based Dream Sports attracted funds from four investors.
India.- Dream Sports, the parent company behind India’s popular fantasy sports gaming brand Dream11, has raised US$225m in a new round of investment.
The new primary and secondary investment was led by Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital and Footpath Ventures.
Dream11 is a fantasy sports app with over 100 million registered users. Last August it became the title sponsor for Indian Premier League (IPL) cricket.
Dream Sports also owns sporting brands FanCode and DreamX.
The company said: “This investment represents the growth of the Indian sports technology sector and its potential to transform sports in India.”
Harsh Jain, CEO and co-founder, said: “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 (100 million) Indian sports fans, investors, employees and the overall sports ecosystem in India.”
Bhavit Sheth, COO and co-founder, 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.”
Partners from the capital investment firms involved emphasised the “significant opportunity” of investing in India’s booming sports market.