This is TCV’s first investment in India. It has invested in world tech giants like Netflix, Airbnb, Sportradar and Peloton.
The spherical additionally noticed participation from present buyers like Tiger Global, ChrysCapital, TPG Growth, Steadview Capital and Footpath Ventures.
Falcon Edge Capital, co-founded by Navroz Udwadia, invested through Alpha Wave.
Dream Sports stated that is the biggest investment in the Indian sports activities tech ecosystem so far and a sworn statement to its rising market potential.
“This is a huge vote of confidence to the Indian start-up ecosystem,” stated Harsh Jain, CEO and Co-Founder, Dream Sports. “We have created the fantasy sports category in India to drive digital engagement to real-life sporting events and bring fans closer to the sport they love. We are proud to continually contribute to the overall expansion of the Indian sports ecosystem.”
Gopi Vaddi, General Partner at TCV, stated, “India is home to the world’s largest and most energetic sports fan base with a dynamic mix that is unique to the subcontinent. Dream Sports is serving this community with a highly innovative product offering. We are inspired by what Harsh, Bhavit and the Dream Sports team have built, and we look forward to partnering with them.”
Founded in 2008 by Jain and Bhavit Sheth, Dream Sports is positioned in Mumbai and employs near 600 folks.
Avendus Capital was the unique monetary advisor to Dream Sports on the transaction.