Dream Sports, the sports technology company with brands such as Dream11, FanCode and DreamX in its portfolio, has announced the completion of a primary and secondary investment led by Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital and Footpath Ventures worth $225 Million. This investment represents the growth of the Indian sports technology sector and its potential to transform sports in India.
Recently, DreamSportâs Dream11 won the IPL 2020 title sponsorship for Rs 222 crore.
Harsh Jain, CEO and Co-Founder, Dream Sports, said, âWe are excited to welcome our new partners, who share our passion for sports and have extensive experience in building highly valuable tech companies in India. As a homegrown Indian company, we are proud to continue adding value to our 10 crore Indian sports fans, investors, employees and the overall sports ecosystem in India. In the last two years, we have grown beyond fantasy sports to sports content, merchandise, streaming, experiences, and there is much more to come. Our vision is to âMake Sports Betterâ for India and Indian fans through sports technology and innovation.â
Akshay Tanna, Managing Director, TPG, said, âThe sports sector has high growth potential in India. There is a significant opportunity to enhance the fan experience and we are excited to partner with Dream Sports to leverage technology in ways that will deepen the connection between Indian fans and the sports they love.â
Kshitij Sheth, Vice-President, ChrysCapital, said, âDream Sports is the largest and fastest-growing sports tech platform in the country with a phenomenal track record. ChrysCapital is excited to be a part of their vision to transform the way sport is consumed through technology and innovation.â
Bhavit Sheth, COO and Co-Founder, Dream Sports, said, âWe welcome our new partners in this phase of our growth. We have grown from one to many brands and from 200 Sportans (employees of Dream Sports) to 450 in the last two years. I am proud of our lean yet highly efficient team that has been the driving force behind the creation of âSports Techâ as a new industry category in India.â
A completely homegrown company founded in 2008 by Jain and Sheth, Dream Sports is headquartered and located only in Mumbai.
Avendus Capital was the exclusive financial advisor to Dream Sports on the transaction.