India-based unicorn Dream Sports, which owns e-fantasy gaming startup Dream11, has secured US$840 million at a valuation pegged at US$8 billion.
Harsh Jain, CEO and co-Founder, Dream Sports / Photo credit: Dream Sports
The round was led by Falcon Edge, DST Global, D1 Capital, RedBird Capital, and Tiger Global. TPG Capital and Footpath Ventures also invested.
Dream Sports will use the funds to create an entrepreneur-led virtuous cycle of investment, innovation, and wealth creation for all stakeholders – from fans and athletes to teams and leagues – in the sports ecosystem.
The latest round comes after Dream Sports’ US$400 million fundraise in March. It was led by marquee global investor TCV, an early investor in Netflix.
With an existing user base of 140 million, Dream Sports is looking to build one of the world’s largest sports ecosystems. Its Dream11 brand is among the few consumer tech unicorns in India that’s in the black, posting a profit of US$24 million for fiscal year-ended 2020.
Editing by Collin Furtado
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