Dream 11 has scooped up $840 million in a new round led by Falcon Edge, DST Global, D1 Capital, Tiger Global and Redbird Capital.
This is a significant jump in Dream11’s valuation
Dream11 [owned by Dream Sports] has raised $840 million in a fresh funding round headed by Falcon Edge, DST Global, D1 Capital, Tiger Global, and Redbird Capital. TPG and Footpath Ventures also joined the round.
According to the company, it has raised new funds valued at $8 billion. This is a considerable increase in Dream11’s worth, which was previously valued at $5 billion in a $400 million secondary sale in March of this year.
Dream11’s parent company, Dream Sports, announced its $250 million venture capital and merger and acquisition arm, Dream Capital, in August. According to the company, Dream Capital has a portfolio of ten startups, including Fittr, SoStronk, and KheloMore. Dream Capital is currently extending its sports, fan engagement, and fitness portfolios in India and around the world.
Dream Sports, which has 140 million users, provides sports content, commerce, experiences, fan engagement (including sports gaming and esports), Web 3.0 solutions, fantasy sports, and fitness technologies.
Dream11 was recently in the headlines because the company was forced to halt operations for consumers in Karnataka due to a first information report (FIR) issued against its founders. The firm was accused of breaking the new rule prohibiting wagering and betting on online games, according to the FIR. The Karnataka High Court, on the other hand, barred police from initiating action against Dream11’s founders.
