Tuesday December 5, 2023

Dream Sports Valued at $8B After $840M Round

Dream Sports/Design: Alex Brooks
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Sports technology firm Dream Sports announced last week that it raised $840 million in a funding round led by RedBird Capital, Falcon Edge, DST Global, D1 Capital, and Tiger Global.

Dream Sports previously closed a $400 million round in March, and the new capital gives the India-based company an $8 billion valuation.

“We see a massive opportunity in going deep into sports like kabaddi… beyond cricket… and that is what we are aiming to do with this money,” cofounder and CEO Harsh Jain said.

With a user base of 140 million sports fans, each Dream Sports brand has seen individual success recently.

  • Fantasy gaming platform Dream11 — one of the biggest firms in India’s fantasy gaming market — is preparing for a U.S. listing early next year.
  • Sports experience platform DreamSetGo announced a partnership with Manchester City earlier this month.
  • Dream Sports committed $50 million to its sports content and commerce platform FanCode in May.

Dream Sports’ other brands include Dream Game Studios and payment solutions provider DreamPay. In August, it set up a $250 million corporate venture fund — Dream Capital — with an initial portfolio of 10 companies including online fitness and nutrition community Fittr.

Previous investors TPG and Footpath Ventures also participated in the latest funding round.

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