MUMBAI: Cricket commentator Harsha Bhogle has invested an undisclosed amount in Fantasy Akhada, and will be the fantasy sports startup’s face for the next two years.
Founded by Amit Purohit in January, Fantasy Akhada has a vision of exponentially enhancing the level of sports engagement in India. The platform claims to have built a user base of 100,000 in the eight months since launch and is now looking at the next phase of growth.
“This phase will not only witness the brand’s accelerated growth in the traditional daily fantasy sports format but will also witness the expansion of the brand’s horizon in terms of driving sports engagement amongst Indian audiences by linking it to the thrill of cricket and enjoyment of sports via different gameplay options,” an official release states.
On his association with Fantasy Akhada, Bhogle said; “I have always been interested in fantasy sport because it allows fans to test their wits against others and allow them to be more involved. Fantasy Akhada is an initiative of hard-core sports lovers who understand the fan and fantasy sport and I enjoy seeing young, driven people trying to move ahead. I am hoping Fantasy Akhada will become a platform where fans can congregate and enjoy playing fantasy sport.”
Purohit noted: “We are excited to have Harsha, a stalwart in the world of cricket, join us as an investor at this stage of our journey. When we decided to look for a brand icon for Fantasy Akhada, we aimed at having someone who has an immensely powerful brand image in the minds of the Indian Cricket Fans. We were also clear that it was not just about getting a face for the brand but, in fact, we wanted someone who shares our vision that we have for the business and believes in it wholeheartedly. We are a young organization and we would also be looking at Harsha as a mentor to us from time to time. Hence, we are humble yet highly enthusiastic to have Mr Bhogle onboard with us.”
“This is a long-term partnership wherein apart from being the face of the brand, he will also guide us in this journey thanks to his vast experience and in-depth knowledge in the world of sports, especially Cricket. We are also very sure that his understanding of fan behavior/preferences and strong business background will help us in planning the next phase of growth for our startup,” Purohit added.
Over the next few months, the company plans to leverage the funding raised so far coupled with Bhogle’s association to drive the next phase of growth. Over the next quarter, on the back of IPL 2020 and a packed cricket calendar, driving the critical metrics aggressively for the daily fantasy sports model will be a key focus area for the organization.
While the brand continues to move up the ladder and strengthen its position in the traditional DFS ecosystem, it also intends to push the predictions game & match club format and ask people to sample the same in a big way during the IPL.
Fantasy Akhada has been growing by more than 100% month on month post the lockdown on sports ended globally and now with Harsha’s association just before IPL 2020, the growth rate is expected to be astonishing.
Another key focus area where the company aims to invest a lot of time, thought and resources is customer engagement and retention. In its 8-month journey, Fantasy Akhada claims to have “displayed phenomenal retention levels thanks to the 24*7 dedicated customer care, instant problem resolution and safe and quick withdrawals”.
