Dream Sports closed an $840 million funding round led by Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global. The round also saw participation from existing investors such as TPG and Footpath Ventures. “Our concept is to create an entrepreneur-led cycle of investment, innovation and wealth creation for all stakeholders in the sports sector, from fans to athletes, teams and leagues. Our investors have deep experience in growing sports ecosystems globally, and we are lucky to have their guidance to ‘Make Sports Better’ for fans,” said Harsh Jain, CEO and co-founder of Dream Sports.

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Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports has brands like FanCode, Dream Capital, DreamSetGo, Dream Game Studios, and DreamPay. It has a user base of more than 140 million users and has employees of around 1,000 people. The company’s operational revenue raised to Rs 2,070.4 crore in FY20, from Rs 775.5 crore in FY19. Dream11 spent a lot on advertising and promotions during the fiscal to gain profit in mobile gaming in the country.