Indian fantasy gaming company raises $40 million to mark its presence in US, Vietnam

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homegrown esports to start FanClash on Friday it said it has raised $40 million in its Series B funding to expand its global footprint.



Founded in mid-2020, FanClash has recently expanded to the Philippines and aims to be a global leader in esports.

The Series B funding round was led by Sequoia Capital India, Falcon Edge, Info Edge India and Matic Networks.

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“FanClash released its product in India in 2021 and in the Philippines in June 2022 and aims to launch in Vietnam and the US by early 2023,” a company spokesperson said in a statement.

The startup previously raised $10 million in Series A from Sequoia Capital India, Falcon Edge (Alpha Wave Ventures) and Info Edge India.

FanClash started its journey as a fantasy game application for all esports viewers and has grown into Asia’s largest esports fantasy platform.

There are 500 million esports viewers worldwide, growing at a 20 percent CAGR (compound annual growth rate), according to the startup.

In India there are 100 million users and this is expected to triple by 2025.

FanClash users can build their fantasy team from any tournament and earn rewards based on the teams’ real-life performance.

The platform allows users to play fantasy on all the leading global tournaments in top esports such as FreeFire, PUBG Mobile, COD Mobile, COD PC, Valorant, CS:GO, League of Legends and DOTA 2, etc.

“We strive to be a household name in the global gaming community. This is possible in esports, as opposed to traditional sports, because the underlying game titles have global audiences,” said Richa Singh, Co-Founder of FanClash.

Online gaming has over 300 million users in India and esports has reached a turning point with over 100 million Indian viewers.

“The online gaming market is also making good revenues and is on track to generate more than $5 billion in revenue by 2025,” said Rajan Anandan, MD, Sequoia India.

“By taking advantage of this opportunity, FanClash is building an exciting new destination for esports fans with an incredible product loved by its users,” he added.

According to Anirudh Singh, MD, Alpha Wave Global, FanClash has also shown its execution power in all international markets while maintaining high capital efficiency.

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