Millions of Indians assemble virtual sports teams every year, placing their hopes on players selected to perform very well in real-world matches. If the predictions are correct, users earn money.
fanclash, a two year old Indian startup, is trying to bring esports like sleeper hit titles PUBG MOBILE, COD and DOTA 2 to this fantasy sports world. Investors are predicting that this model and the FanClash team will deliver, and on Friday said they have poured $40 million of new funding into the startup.
Alpha Wave Global, formerly known as Falcon Edge Capital, led FanClash’s Series B financing round. Sequoia Capital India, Info Edge and Polygon also participated in the round. FanClash previously raised $10.5 million, including a $10 million Series A.
As is popular with cricket- and football-themed fantasy sports startups, on FanClash, users compete against each other in a range of popular titles including Counter-Strike: Go, Freefire and League of Legends, choosing their favorite players and winning the game. -Let’s make spinning teams. ,
Millions of Indians watch and play eSports. As the appetite for daily fantasy sports grows among fans, startups are rapidly creating billion-dollar opportunities. But unlike cricket followers, who can earn rewards by making predictions using platforms like the Mobile Premier League and Dream11, fans looking to monetize their skills and knowledge were not served earlier, said Richa Singh, co. -Said the Founder and Chief Executive Officer. In an interview with Fanclash, Meczyki.Net.
“We only focus on core esports tournaments. We are not focusing on casual games. Our thesis is that the world is seeing the rise of a new kind of game, and when there is a new game, a data layer and a fantasy layer will be built on top of that,” she said. “These esports have bigger numbers than cricket, but they lack the data and fantasy layers.”
Singh declined to divulge how many customers FanClash has collected, but said the startup has been growing rapidly since launching the service of the same name early last year, and is clearly “the biggest in India”. export fantasy business”.
“Online gaming in India has over 300 million users and esports has hit an inflection point with over 100 million Indian audiences,” Rajan Anandan, managing director, Sequoia India and Southeast Asia, said in a statement.
“The online gaming market is also monetizing well and on track to surpass $5 billion in revenue by 2025. Following this opportunity, Fanclash is creating an exciting new destination for fans with an incredible product which is preferred by its users.”
FanClash considers India to be its largest market and is beginning to explore international expansion. It is experimenting in the Philippines, Singh said.
“We aspire to be a household name in the global gaming community. On a broader scale, our vision is to make the Indian startup ecosystem proud by creating ‘Global Digital Products from India, to the World’ and we believe we have the right ingredients to be a world leader.”
The startup plans to hire talent and deploy fresh funds to scale the platform. “That’s why we’re going public with our news,” she said in the startup’s first media interview.
“Esports has proven to be the next step in the evolution of the sports industry. It is a global market that still has major unsolved problems around fantasy as well as fan engagement,” Anirudh Singh, managing director of Alpha Wave Global, said in a statement. Wave Global is also one of the biggest supporters of Dream11.
“Using data as a moat, we have been very impressed with the way FanClash has tailored its gaming platform for global markets. The company has expanded its footprint across all international markets while maintaining high capital efficiency. The execution power has also shown – reflected in industry-leading metrics such as LTV/CAC. We are privileged to partner with the team and look forward to helping build a global esports platform,” he said.