Falcon Edge, D1 Capital, DST Global, RedBird Capital, Footpath Ventures, Tiger Global, and TPG Capital came together to invest in Dream Sports (also known as Sports Technologies)- India-based online e-fantasy gaming firm Dream 11.
The company valuation pegged at US$8 billion secured US$840 million in the funding round. It came after the US $400 million fundraise in March 2021 through TCV- the global technology investor who also invested in Netflix earlier. Falcon Edge and D1 Capital Partners were among the other investors.
Dream Sports plans to use this funding for entrepreneur-led investment as per Harsh Jain- CEO and co-founder of Dream Sports. They further plan to bring innovation on their platform and create wealth for all the stakeholders- leagues, teams, athletes to fans in the entire sports ecosystem.
Dream Sports with a customer base of 140 million aims to create the world’s largest ecosystem. It had registered a profit of US $24 million in the financial year- 2020 after booking a loss of Rs in 2019. Dream 11 has obtained unicorn status in the consumer tech space and is one of the few companies to have registered this kind of profit.