Mumbai-based Dream Sports is now valued at $8bn.<\/p>\n\n\n\n\n\n\n\n
India.-\u00a0Dream Sports<\/strong>, the parent company behind India\u2019s popular fantasy sports gaming brand Dream11, has raised $840m in a new round of investment. This round of financing received participation from existing investors<\/strong>, such as TPG and Footpath Ventures.<\/p>\n\n\n\n Harsh Jain, CEO and founder<\/strong>, said: “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.<\/p>\n\n\n\n “Our investors have deep experience in developing sports ecosystems globally, and we are fortunate to have their guidance to \u2018Make Sports Better\u2019 for 1 Billion Indian sports fans.”<\/p>\n\n\n\n Dream11 is a fantasy sports app with over 100 million registered users. In 2020,\u00a0the company raised US$225m<\/a>\u00a0in a previous round of investment.<\/p>\n\n\n\n Dream11<\/a> suspended operations in the southern Indian state of Karnataka after a complaint was filed claiming that it was violating the state\u2019s new ban on online gambling<\/a>.<\/p>\n\n\n\n The new law, which took effect last week, prohibits online gambling and \u201cany act or risk of money, or otherwise on the unknown outcome of an event, including a game of skill.\u201d Many apps have stopped providing their services, but Dream11 had continued running.<\/strong><\/p>\n\n\n\n According to Reuters, a complaint against the company<\/strong> was made in Bengaluru, India\u2019s tech capital, by a 42-year-old taxi driver.<\/p>\n","protected":false},"excerpt":{"rendered":" Mumbai-based Dream Sports is now valued at $8bn.<\/p>\n","protected":false},"author":176,"featured_media":21862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Dream Sports, parent company of fantasy sports brand Dream11, has secured $840m in a new funding round, valuing the Mumbai-based entity at $8bn. This capital injection, supported by existing investors TPG and Footpath Ventures, aims to further its vision for a robust sports ecosystem in India. Concurrently, Dream11 has suspended operations in Karnataka following a new state law prohibiting online gambling, including games of skill, highlighting escalating regulatory compliance challenges for the iGaming sector in India.","focusai_entities":"Dream Sports, Dream11, TPG, Footpath Ventures, Harsh Jain, Reuters","focusai_location":"India, Mumbai, Karnataka, Bengaluru","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Karnataka Law Impact","query":"What are the broader implications of Karnataka's new online gambling law on the 'games of skill' classification across other Indian states, and how might this influence future regulatory harmonization or fragmentation for iGaming operators?"},{"label":"Dream Sports Valuation Drivers","query":"Given the regulatory uncertainties in key Indian states, what specific growth vectors and strategic initiatives are underpinning Dream Sports' $8bn valuation, and how are investors factoring in jurisdictional compliance risks?"}],"footnotes":""},"categories":[157,16338],"tags":[],"class_list":["post-24923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=24923"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24923\/revisions"}],"predecessor-version":[{"id":24947,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24923\/revisions\/24947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21862"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Dream11 suspends operations in Karnataka, India<\/h2>\n\n\n\n