Mumbai: Dream SportsThe parent company of online fantasy gaming platform Dream11 has raised $840 million at a valuation of $8 billion. The round was led by new and existing investors, including falcon edge, DST Global, D1 Capital, Tiger Global and Redbird Capital. TPG and Pavement Ventures also participated.

The fresh financing comes on the back of Mumbai-based Dream Sports
Closing $400 million of secondary funding round in March, which valued the company at about $5 billion.

The 13-year-old company has diversified its offerings in recent years to cover the range of sports technology products and services in India. it recently
Committed $50 Million In a massive endeavor to make Fancode our in-house sports content and commerce platform, one-stop destination for sports. Dream Sports also offered payment solutions through Dream Pay, launched an accelerator called DreamX, and operates DreamSetGo, a sports experiential company. In August the firm said it had set up a corporate venture arm, Dream Capital.
With a corpus of $250 million, for transformation into a game technology group.

Talking to ET about fund raising, Harsh JainIts co-founder and CEO said that the company’s focus is to create a thriving sports ecosystem in India that goes beyond fantasy gaming. “We are now doing sports commerce, data analytics, merchandising, investing in sports startups and then there are platforms like Fancode which have grown substantially for us. We are aiming to do sports like kabaddi…beyond cricket…and do the same with this funding.”

Jain said that the company will remain private despite the exploitation of tech startups in the public markets. “We’re not going to go public because the market is hot, we’ll do it when we think we’re solving a problem. It’s not in our plans for the next year or so,” he said.

Founded in 2008 by Jain and Bhavit Sheth, Dream Sports says it has a user base of 140 million which it wants to leverage and build a complete sports experience.

For the financial year ended March 2020, Dream Sports reported a profit of Rs 180 crore, making it one of the few Indian consumer-tech unicorns that have turned profitable.

in one
ET. prior interview withJain had said, “We have a good core business, which has market leadership in its field. Now, we want to build on YouTube, Gmail and Google Maps of Sports. We want to make an Alphabet-like entity, not just Google Search.” Alphabet Inc. is the parent company of Google.

Dream Capital, the group’s investment arm, has backed 10 companies so far, including Fitter, Sostronk, Khelomore and Elever. It is now expanding its sports, fan engagement and fitness portfolio in India and globally.

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