FanClash
Key Highlights:
  • FanClash, a Gurugram-based fantasy esports startup has raised $40 Mn in a Series B round.
  • FanClash plans to use these funds in hiring across multiple positions and scale its platform.
  • There are 60,000 users active on FanClash, and its app has been downloaded 100K times to date.

FanClash, a Gurugram-based fantasy esports startup has raised $40 Mn in a Series B round. The round was led by Alpha Wave Global. The round has seen the participation of Marquee investors Sequoia Capital India, Info Edge and Polygon.

The startup was founded in 2020 by IIM-A alumni Richa Singh and Rishabh Bhansali. Esports fans can join FanClash and play fantasy sports. In esports, users can compete in a similar way as they do in other fantasy sports such as football or cricket.

So far the startup had raised a total of $50.5 Mn over three rounds. FanClash plans to use these funds in hiring across multiple positions and scale its platform.

Users can make fantasy teams and compete against one another on the platform and stream competitions across titles such as PUBG and Call of Duty.

There are 60,000 users active on FanClash, and its app has been downloaded 100K times to date. Also, the startup says it has distributed INR 52 lakh in winnings so far.

Anirudh Singh, managing director at Alpha Wave Global, said in a statement, “Based on FanClash’s application of data as a moat, we were very impressed with the way it has built out its gaming platform for the global market. In addition to demonstrating execution strength across all international markets, the company has also demonstrated high capital efficiency, as evidenced by industry-leading metrics such as LTV and CAC. As partners, we look forward to helping create a global Esports platform.”

According to Rajan Anandan, managing director at Sequoia India, In India, there are more than 300 million active gamers online, with exports reaching 100 million.

According to a report, The Indian esports market is expected to reach INR 1,100 Cr in size by FY22, generating INR 10,000 Cr in total economic value by FY2025.

For More Startup and Funding-related News Visit Alphafirm.

 

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