Dream11 parent Dream Sports banks $225m at $2.5b valuation

Tiger Global Management, TPG Tech Adjacencies, ChrysCapital, and Footpath Ventures led the fundraise, which was financed through primary and secondary investments.

With this capital injection, Dream Sports’ valuation now stands at over US$2.5 billion, two sources told TechCrunch. Cricket-focused Dream11 has raised roughly US$325 million to date.

Founded in 2008, the Indian gaming startup houses other brands such as multisport app FanCode, sports accelerator program DreamX, and sports-focused tour agency DreamSetGo. Dream Sports became a unicorn last year after securing secondary investments from Steadview Capital.

“In the last two years, we have grown beyond fantasy sports to sports content, merchandise, streaming, experiences, and there is much more to come,” said Dream Sports CEO and co-founder Harsh Jain, adding that the company has over 100 million users.

This comes as a new season of the Indian Premier League is set to kick off later this week, following months of delay due to the Covid-19 pandemic.

Dream11 became the title sponsor for the league’s 2020 season after bidding US$30 million for rights previously held by Vivo. The Dongguan-based smartphone maker dropped the sponsorship amid rising geopolitical friction between China and India.