Indian Esports Fantasy Startup Fanclash Raises Investment

FanClash is a two-year-old Indian startup seeking to integrate esports into the fantasy sports world, including sleeper hits like PUBG Mobile, COD, and DOTA 2. Investors believe this approach and the FanClash team will deliver and announce on Friday that they had invested $40 million in the startup.

FanClash’s Series B investment round was headed by Alpha Wave Global, previously Falcon Edge Capital. The round was also attended by Sequoia Capital India, Info Edge, and Polygon. FanClash has previously raised $10.5 million, including a $10 million Series A round.

“Esports is watched and played by tens of millions of Indians. As the popularity of daily fantasy sports grows, entrepreneurs are increasingly seeking billion-dollar chances. But, unlike cricket fans who can earn rewards by making predictions on platforms like Mobile Premier League and Dream11, esports fans who want to monetize their skills and knowledge haven’t been served before”, according to Richa Singh, co-founder, and chief executive of FanClash.

“We exclusively participate in core esports competitions. We are not interested in casual games. Our hypothesis is that the world is witnessing the creation of a new type of sport and that when a new sport emerges, it will be accompanied by a data layer and a fantasy layer,” she explained.

Singh wouldn’t say how many users FanClash has, but he did say that the company has been rapidly expanding since introducing the eponymous service early last year and that it is now the “largest esports fantasy business in India.”

As per Singh, FanClash’s major market in India, and the company is looking at expanding internationally. It’s being tested in the Philippines.

“In the worldwide gaming community, we strive to be a household name. Our objective is to make the Indian startup ecosystem proud by developing a ‘global digital product from India, for the world,’ and we feel we have the proper ingredients to become global leaders,” she added.

Also, Anirudh Singh a managing director of Alpha Wave Worldwide stated, “Esports has shown to be the next phase in the gaming industry’s progression. This is a global business with tremendous unresolved concerns concerning fantasy as well as fan interaction.”