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Dream Sports raises $840 mn at $8 bn valuation
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SME Times News Bureau | 25 Nov, 2021
Homegrown sports tech platform Dream Sports has announced it has raised
$840 million, led by Falcon Edge, DST Global, D1 Capital, RedBird
Capital and Tiger Global, at an $8 billion valuation.
With an
existing user base of 140 million in India, the company has brands such
as Dream Capital, FanCode, Dream11, DreamSetGo, Dream Game Studios, and
DreamPay in its portfolio.
The fresh funding round also saw
participation from existing investors like TPG and Footpath Ventures,
the company said in a statement.
"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," said Harsh Jain, CEO and Co-Founder,
Dream Sports.
Earlier this year, Dream Sports announced a corpus of $250 million through its CVC and M&A arm, Dream Capital.
Dream
Capital has built an initial portfolio of 10 companies, largely
focusing on early-stage investments in India, including, Fittr,
SoStronk, KheloMore and Elevar.
Dream Capital is now expanding its sports, fan engagement and fitness portfolio in India and globally, the company said.
"We're
excited to partner with the Dream Sports family in their vision of
building the leading end-to-end sports tech company in India," said
Rahul Mehta, Managing Partner at DST Global.
Founded in 2008 by Jain and Bhavit Sheth, Dream Sports is located in Mumbai and employs close to 1,000 people.
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