Tencent leads $100 mn investment in fantasy sport platform Dream11

techiexpert
Sep 8, 2018 · 1 min read

Mumbai-based fantasy sports platform Dream11 has raised around ₹720 crores ($100 million) in series D funding led by Tencent Holdings, China’s largest gaming and social media company.

The development has been confirmed by the application development company Dream11’s spokesperson, saying that the fantasy gaming platform has raised series D funding from Tencent and other existing investors, refusing to comment on the sum raised.

Some of the previous reports suggested that the Chinese gaming giant Tencent was looking to venture into the Indian gaming industry. According to the surfaced reports, Tencent was planning to invest around $200 million in India’s growing gaming industry in the first year, with a goal of capturing a third of the country’s gaming user base in two years.

The startup which is founded by two people Harsh Jain and Bhavit Sheth in the year 2012, Dream11 provides a platform for the people who is having a fans to showcase their knowledge in various fantasy sports like cricket, football, kabaddi, and NBA, to win some real cash. The platform engages fans to create a comprehensive gaming platform by enabling deeper connections.

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