Dream11: IPL sponsor's owners Dream Sports valued at $2.5 bn after latest funding round?

Indian-owned company Dream Sports, which includes top sports technology brands such as Dream11, FanCode and DreamX in its portfolio, recently raised $225 million in the primary and secondary investment rounds. The latest series of investments was led by companies like Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital and Footpath Ventures. The investment more than doubles the valuation of Dream11’s parent company, which is now up to $2.5 billion from $1.1 billion in April 2019, according to TechCrunch. Recently, Dream11 was in the news for becoming the title sponsor of the IPL 2020.

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Dream11 value increases after the latest round of funding

The sports technology firm Dream Sports in the highest valued gaming start-up in the country, with the company the only one from its category to be part of India’s unicorn list. Under the ambit of Dream Sports, the firm has various offerings like Dream11, FanCode and DreamX. Dream11 is a fantasy sports gaming app which allows users to play various games like cricket, football, kabaddi, basketball, hockey, volleyball etc.

Dream11 is by far the most successful brand under the Dream Sports name, with the fantasy sports app having amassed more than 1.5 crore app downloads. Dream Sports’ FanCode is an aggregator which provides live scores and streaming options amongst other facilities. The company also has a sports accelerator called DreamX, which aims to support innovative ideas and entrepreneurs.

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IPL Dream11 deal

After the IPL sponsors controversy resulted in Chinese mobile manufacturer VIVO pulling out of IPL 2020, it was Dream11 that won the title sponsorships rights for this year’s competition. Last month, it was confirmed that Dream11 will be the title sponsor of IPL 2020 with a bid of ₹222 crore being accepted by the BCCI. The company fought off competition from Unacademy and BYJU'S, who had put in bids of ₹170 crore and ₹201 crore respectively. After the decision that Dream11 will be the title sponsor of IPL 2020 was announced, the competition’s name and logo have been rebranded in recent times to accommodate the Dream11 brand. According to Your Story, there is also a possibility that Dream11 may continue as the title sponsor till 2022, with the platform paying ₹240 crore each for 2021 and 2022 in case VIVO doesn’t come back next year.

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IPL sponsors list keeps growing

While Dream11 is the title sponsor for the IPL 2020, a series of brands have been added to the IPL sponsors rooster in recent days. The IPL sponsors list includes several household names such as CRED, Unacademy, Paytm, CEAT amongst others. Recently, telecom operator Vodafone Idea, under its new ‘Vi’ brand name also became the co-presenting sponsor of the upcoming Dream11 IPL 2020

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Image Credits: Dream11 Twitter