Fantasy sports platform Dream11 [owned by Dream Sports] has raised $ 840 million in a new round led by Falcon Edge, DST Global, D1 Capital, Tiger Global and Redbird Capital. TPG and Footpath Ventures also took part in the round.
Trickypedia would have exclusively reported on this round of financing in Dream11 on August 30th.
According to the company, it has raised new funds valued at $ 8 billion. This is a significant jump in Dream11’s valuation, which was valued at $ 5 billion during a $ 400 million secondary transaction back in March this year.
In August, Dream11 mother Dream Sports started her venture capital cum merger and acquisition arm Dream Capital with a corpus of 250 million US dollars. According to the company, Dream Capital has built an initial portfolio of 10 startups, including Fittr, SoStronk, and KheloMore.
Dream Capital is now expanding its sports, fan engagement and fitness portfolio in India and worldwide.
With a user base of 140 million, Dream Sports offers sports content, commerce, experiences, fan engagement (including sports games and esports), Web 3.0 solutions, fantasy sports and fitness technology.
Dream11 was in the news recently when the company was forced to cease operations for users in Karnataka following an initial intelligence report (FIR) against its founders. The FIR accused the company of violating the new law prohibiting betting and betting in online games. The Supreme Court of Karnataka reluctant police take action against the founders of Dream11.
Dream11, which does not yet have to submit its annual financial statements for FY21, had published Rs 181 crore profit in FY20. Corresponding Trickypedia, the company had operating income of Rs 2.070 billion for the year versus total expenses of Rs.1.867.6 billion.
Dream11 is the highest rated startup in the fantasy and esports ecosystem. Mobile Premier League [MPL] had raised its Series E round in September to a valuation of $ 2.3 billion.