Dream Sports raises $840 million from Falcon Edge, DST Global and others
Dream Sports, India’s leading sports tech company with owns Dream11 among other brands, has received an investment of $840 million at an $8 billion valuation, led by Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global.
The round also saw participation from existing investors like TPG and Footpath Ventures, making it amongst the largest investments globally in the sports tech sector.
Harsh Jain, CEO and Co-Founder, Dream Sports said, “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. Our investors have deep experience in developing sports ecosystems globally, and we are fortunate to have their guidance to ‘Make Sports Better’ for 1 Billion Indian sports fans”
A homegrown company founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports is located in Mumbai and employs close to 1,000 people. The fresh investments come at a time when gaming is seeing massive growth in India. Dream Sports, with an existing user base of 140 million Indian sports fans, is on a mission to build one of the world’s largest sports ecosystems which includes sports content, commerce, experiences, fan engagement (including sports gaming and esports), Web 3.0 solutions, fantasy sports and fitness tech.
Earlier this year, Dream Sports further strengthened its commitment to this space by announcing 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 thematic early stage investments in India, includingFittr, SoStronk, KheloMore and Elevar.
Dream Capital is now expanding its sports, fan engagement and fitness portfolio in India and globally.