Indian esports fantasy startup FanClash raises $40 million

June 17, 2022 India Industry Updates

Millions of Indians each year assemble virtual sports teams, placing their hopes on the players they pick to perform exceedingly well in real-world matches. If the predictions are right, users make money.

FanClash, a two-year-old Indian startup, is attempting to bring esports such as 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 said on Friday they have poured $40 million of fresh 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 across cricket and football-themed fantasy sports startups, on FanClash, users compete with one another across several popular titles, including Counter Strike: Go, FreeFire and League of Legends, by selecting their favorite players and spinning up made-up teams.

Tens of millions of Indians watch and play esports. As appetites for daily fantasy sports grow among fans, startups are increasingly looking to build billion-dollar opportunities. But unlike cricket followers, who can use platforms such as Mobile Premier League and Dream11 to earn rewards by making predictions, esports fans who wish to monetize their skills and knowledge weren’t served before, said Richa Singh, co-founder and chief executive of FanClash, in an interview with TechCrunch.