Total amount raised
$400 Million
Latest funding date
03/01/2021
Location
Dream Sports has successfully raised funding over two rounds, with notable investors such as Tiger Global Management, Alpha Wave Global, and D1 Capital Partners backing the company. The platform encompasses various brands, including Dream11, FanCode, and DreamSetGo, catering to over 140 million users.
Keep reading to explore the intricacies of Dream Sports' fundraising journey and the investors supporting this innovative sports technology company.
What Is Dream Sports?
Dream Sports, founded in 2008, is a leading sports technology company based in Mumbai, Maharashtra, India. The company operates several brands, including Dream11, FanCode, DreamSetGo, and Dream Cricket, catering to over 140 million users.
Co-founded by Harsh Jain and Bhavit Sheth, Dream Sports has grown significantly, employing over 1000 people. The company is committed to enhancing the sports experience through innovative offerings and contributing to the growth of the Indian sports ecosystem.
How Much Funding Has Dream Sports Raised?
- Secondary Market
- Amount Raised: USD 400,000,000
- Date: March 2021
- Lead Investors: D1 Capital Partners, TCV, Falcon Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive digital engagement in real-life sporting events and contribute to the Indian sports ecosystem.
- Undisclosed
- Date: January 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the company.
Total Amount Raised: USD 400,000,000
Current Valuation: Not publicly disclosed
Key Investors
- TCV
- Details: TCV (Technology Crossover Ventures) is a prominent venture capital firm that has made significant investments in global tech companies. This was their first investment in India, marking a notable entry into the Indian market.
- Investment Focus Areas: Technology, consumer internet, software.
- Notable Investments: Netflix, Airbnb, Sportradar, Peloton.
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm known for its diverse portfolio and strategic investments. They were a lead investor in Dream Sports' secondary market funding round.
- Investment Focus Areas: Various sectors globally.
- Notable Investments: Not publicly disclosed.
- Falcon Edge
- Details: Falcon Edge Capital, co-founded by Navroz Udwadia, is an investment firm that often invests via its Alpha Wave incubator. They participated in Dream Sports' secondary market funding round.
- Investment Focus Areas: High-growth companies.
- Notable Investments: Various high-growth companies via Alpha Wave.
- Tiger Global Management
- Details: Tiger Global Management is a leading investment firm with a focus on private and public companies in the global internet, software, consumer, and financial technology sectors. They are an existing investor in Dream Sports.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Not publicly disclosed.
- ChrysCapital
- Details: ChrysCapital is one of the largest and most successful private equity firms in India. They have a strong track record of investing in high-growth companies.
- Investment Focus Areas: High-growth companies.
- Notable Investments: Not publicly disclosed.
What's Next for Dream Sports?
Dream Sports stands at the cusp of significant growth, driven by the burgeoning Indian sports ecosystem and increasing digital engagement with real-life sporting events. The $400 million investment, the largest in the Indian sports tech sector, underscores the vast market potential and the opportunities to bring fans closer to the sports they love.
Future fundraising opportunities appear promising, with major global investors like TCV, D1 Capital Partners, and Falcon Edge already on board. The confidence shown by existing investors such as Tiger Global and ChrysCapital suggests ongoing support for future funding needs, potentially leading to further capital inflows and strategic acquisitions to enhance their technology and market reach.
However, Dream Sports may face challenges in maintaining user engagement and growth momentum, navigating regulatory hurdles in the fantasy sports industry, and competing with other sports tech platforms. Addressing these challenges will be crucial for sustaining their upward trajectory and capitalizing on the immense opportunities ahead.
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