Fantasy sports startup Fantasy Akhada raises $2M in pre Series A round
- ByAyushi Ray | September 30, 2021
Fantasy sports startup Fantasy Akhada raises $2M in pre Series A round. Prime Securities Limited was an exclusive Investment Banker to this transaction. The funding round was led by Prime Securities, Team India Managers Limited, and existing investors which included a group of highly successful professionals, including Jyotivardhan Jaipuria (ex-Bank of America Merrill Lynch), the family of Harsha Bhogle (renowned cricket commentator), Sunil Sood (ex-MD & CEO, Vodafone), and Atul Kasbekar (photographer/producer). Nikunj Doshi (Managing Partner – Bay Capital) also participated in this round in his personal capacity, the company stated. According to the official statement, Fantasy Akhada will use the funding to focus on enhancing its in–house tech capability, be aggressive with its user acquisition, retention strategies, and for scaling up the organisation.
Launched in January 2020 by Amit Purohit, Fantasy Akhada provides users a platform to play and win exciting contests in fantasy cricket and football. Besides expanding to other sports like kabaddi and basketball, the platform will use the fresh round of funding to enhance the prize pool of guaranteed mega contests. Amit Purohit, Founder of Fantasy Akhada, welcomed all the incoming investors and said, “We are absolutely delighted to welcome our new set of investors. Prime Securities has been a true partner for us over the last six months and we could not have asked for a better investment banker on board in this journey.” “We will be leveraging this fund raise to drive our vision of enhancing sports engagement in sports fans and the entire team is absolutely excited about this development, at the most opportune moment, just before the heavy duty T20 cricket season.”
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