FanClash which is an Indian based fantasy Esports start-up company has just raised funds amounting to $ 40 million USD in their latest round of funding. This round of investments was primarily led by Alpha Wave Global and even saw the participation of other venture capitalist companies such as Sequoia Capital and Info Edge. This is not the first time FanClash is raising funds as they previously received an investment of $ 10 million USD recently.
Fanclash which is a top player in the esports category in the country was founded during the height of the first wave of the coronavirus pandemic 2 years ago midway through 2020 and its head office is situated in Gurugram, Haryana.
The customers of FanClash compete in many of the popular video games out there in the country such as Counter Strike; Global Offensive, League of Legends, DOTA 2, FIFA, and many more. The users of the esports league by picking their favourite or best players and creating their dream team in the hopes they can win points and rewards for prizes.
Esports have slowly become one of the most popular forms of entertainment and has gone on to become one of the largest esports markets in the continent with a total market value of $ 30 million USD in the recent financial year and is projected to cross $ 1 billion USD in the next 3 years. When it comes to fantasy sports however, India currently hosts the largest market in the world. With well over 13 crores regular participants, with a market value of around $ 440 million USD and it is projected to grow 5 times to over $ 2 billion USD within the next 3 years. This is mainly due to the popularity cricket has and even the popularity of sports has helped boost fantasy sports for cricket, football, and so on.
Watching epsorts has also become in the country and money have been pouring into the industry in the form of sponsors and advertisements. The spokes people of the company said that esports is a relatively new field in the country and whenever a new sport is introduced in a country, there will be a whole new sleuth of data relating to it and a fantasy and dream team sort of aspect will also be introduced which is what they are doing.
With this fresh batch of funds, the company will be looking to scale up their operations and even increase their work force.
