Dream Sports is the parent firm which has Dream11, FanCode and DreamX in its portfolio, has raised $225 million in primary and secondary investment led by Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital and Footpath Ventures. With this, the valuation of the startup has jumped to $2.5 billion from $1.1 billion in April 2019, according to multiple sources, which didn’t want to be named.

Recently, Dream11 won the bid for the title sponsorship of the Indian Premier League (IPL) 2020. ‘As a homegrown Indian company, we are proud to continue adding value to our ten crore Indian sports fans, investors, employees and the overall sports ecosystem in India. In the last two years, we have grown beyond fantasy sports to sports content, merchandise, streaming, experiences, and there is much more to come,’ said Harsh Jain, CEO and co-founder, Dream Sports.

Dream11 became a unicorn, valued at over a billion dollars ($1.1 billion), in April last year, when US-based hedge fund Steadview Capital led a $60 million round by purchasing secondary stakes from early investors. The company was valued at $700 million in September 2018, when it raised $100 million from Chinese internet giant Tencent.

‘The sports sector has high growth potential in India. There is a significant opportunity to enhance the fan experience, and we are excited to partner with Dream Sports to leverage technology in ways that will deepen the connection between Indian fans and the sports they love,’ said Akshay Tanna, managing director, TPG.