Thao Lam La · · 1 min readIndian esports startup scores $40m from Sequoia, others
FanClash, an esports startup based in India, has raised US$40 million in a series B round co-led by existing backers including Sequoia Capital India, Falcon Edge, and Info Edge India. First-time investor Matic Networks also joined the fundraise.
FanClash team / Photo credit: FanClash
Founded in 2020, FanClash is a fantasy gaming platform for core esports viewers worldwide. It allows users to participate in global esports tournaments such as FreeFire, Counter-Strike: Global Offensive, League of Legends, PUBG Mobile, and DOTA 2.
FanClash launched its product in India in 2021 and expanded to the Philippines this month. The startup is targeting Vietnam and the US as its next markets by 2023.
It plans to use the new funds to expand internationally, hire more talent, and bring in new users.
See also: A list of India’s unicorns and their early investors
Customers like the platform because it enables them to compete in fantasy games and helps them become “financially independent.” This in turn allows them to be “taken seriously as esports fans,” according to FanClash co-founder Rishabh Bhansali. He established the company with Richa Singh, former co-founder and CEO of BigStylist, a beauty and wellness provider.
Before this round, FanClash had raised US$10 million in series A money from Sequoia, Falcon Edge, and Info Edge India.
Editing by Miguel Cordon and Joy Tirkey
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