Tiger Global, others invest $225 mn in parent of IPL title sponsor Dream 11

Sports technology company Dream Sports, which owns brands such as Dream11, FanCode and DreamX, has raised $225 million in a Series E round led by Tiger Global Management, TPG Tech Adjacencies, ChrysCapital and Footpath Ventures through primary and secondary investments.

According to people familiar with the matter, the new round values the company at $2.5 billion, more than double the over $1 billion valuation Dream 11 enjoyed in April 2019 when it was declared the country’s first gaming unicorn.

The funding comes close on the heels of the fantasy sports platform becoming the title sponsor for Indian Premier League (IPL) this year, replacing Vivo, for a four-and-a-half month deal. It was awarded the sponsorship rights for Rs 222 crore in August. The unicorn has several other investors including Multiples, Think Investments, Steadview, Kalaari Capital and Tencent.