Gurugram-based Fantasy Akhada Raises $11 Mn In Funding
Super Six Sports Gaming (SSSG), the parent company of daily fantasy sports brand Fantasy Akhada, has secured $11 Million in a fresh round of funding.
Led by Florintree Advisors (run by Mathew Cyriac, ex-MD of Blackstone India), the funding round also saw participation from existing investors, Mukul Agrawal (Param Capital) and Varalakshmi Enterprises (Family Office of the GMR Group). Including this round, the firm has raised over $20 million in funding.
As per the startup, the raised funds will be used to strengthen its position as one of the best fantasy sports brands in the country. In addition, the firm plans to launch a new brand that focuses on streaming, content and analytics.
It is focused towards building world-class technology products that will drive sports engagement in the country.
Fantasy Akhada
Founded by Amit Purohit, Amit Bhardwaj, Ankit Upreti, Pratik Gosar, Sumit Jha, and Sahil Ahuja in 2020, Fantasy Akhada is a Gurugram-based fantasy sports startup. The firm has seen phenomenal growth over the past 3 years and is valued at USD 135 million today.
Speaking about the development, Sumit Kumar Jha, Founder and Group COO of SSSG, said,
“We are excited to onboard a fresh set of investors. Some of our existing investors have also shown their confidence in our vision once again. We are committed towards increasing sports engagement in the country through technology. We believe that sports consumption in India has massive headroom for growth, and we will help accelerate the same. The country, I believe, is at the cusp of a sporting revolution.”
Mathew Cyriac, Florintree Advisors, stated that Super Six Sports Gaming has a clear vision to expand beyond gaming and become a force to reckon with in the Sports Tech space.
He added,
“There is a digital revolution that we are witnessing in India with 1 billion smartphones in the hands of people. Technology would be the key driver in making India a truly multi-sport nation.”
As per a report by gaming fund Lumikai, the gaming industry is expected to reach $8.6 billion in FY27. Banking on this growth, Ashneer Grover, former co-founder of BharatPe, recently launched a fantasy sports platform CrickPe.
In the first week of March, mobile gaming platform Simple Viral Games (SVG) raised Rs 4 crore (500,000 USD) in a pre-seed round led by WEH Ventures. Also, web3 gaming startup Kratos Studios, launched by former Nazara Technologies CEO Manish Agarwal and web3 investor Ishank Gupta, raised Rs 160 crore in a seed round.
Follow us and connect with us on Instagram, Facebook, Twitter, and LinkedIn.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.