MUMBAI: Homegrown sports tech platform Dream Sports, parent company of fantasy gaming unicorn Dream11, has raised $840 million in a fresh funding round led by Falcon Edge, DST Global, D1 Capital, RedBird Capital and Tiger Global, at an enterprise valuation of $8 billion.
The current round also saw participation from existing investors such as TPG and Footpath Ventures, making it among the largest investments in India in the sports and gaming tech sector, the company stated.
Dream Sports, which also has Dream Capital, FanCode, DreamSetGo, Dream Game Studios and DreamPay under its portfolio, was valued at $5 billion in it last funding round in March, when it raised $400 million.
With an existing user base of 140 million in India, Dream Sports aims to build a large sports ecosystem, including in areas like 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 announced a corpus of $250 million through its CVC and M&A arm, Dream Capital. Currently, Dream Capital has built an initial portfolio of 10 companies, largely focusing on thematic early stage investments in India, including, Fittr, SoStronk, KheloMore and Elevar. Dream Capital is now expanding its sports, fan engagement and fitness portfolio in India and globally.
"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," said Harsh Jain, CEO and co-founder, Dream Sports.
"We`re excited to partner with the Dream Sports family in their vision of building the leading end-to-end sports tech company in India," said Rahul Mehta, managing partner at DST Global.
Founded in 2008 by Jain and Bhavit Sheth, Dream Sports is headquartered in Mumbai and employs close to 1,000 people.