Funding Alert

Esports fantasy startup FanClash raises $40 million in the Series B round of funding

• ByStartupStory     |    June 18, 2022

FanClash, a Bengaluru-based esports company, has acquired $40 million in Series B investment to help it achieve its goal of creating a worldwide esports fantasy, data, and fan interaction platform. The current fundraising was co-led by existing investors Sequoia Capital India, Falcon Edge, and Info Edge India, as well as Matic Networks (Polygon). This follows a $10 million Series A financing in August 2021 from Sequoia Capital India, Falcon Edge (Alpha Wave Ventures), and Info Edge India.

FanClash began as a fantasy game application for all core esports watchers in mid-2020 and has since grown to become Asia’s largest esports fantasy platform, having operations in India and the Philippines. Esports enthusiasts across the world watch tournaments and activities for around 8-10 hours each week, but there aren’t many ways for players and spectators to profit from their expertise.

Rishabh Bhansali, FanClash’s co-founder said that FanClash is popular among our clients not only because it allows them to compete in fantasy games, but also because it allows them to become financially independent and so be treated seriously as esports fans. The industry’s fantastic acceptance of FanClash in the previous 12 months has substantiated this.

Online gaming has over 300 million players in India, according to Rajan Anandan, MD, Sequoia India, and esports have reached a tipping point with over 100 million Indian spectators. The online gaming sector is also doing strongly, with sales on track to exceed $5 billion by 2025. FanClash is pursuing this potential by creating an exciting new location for esports enthusiasts, complete with an excellent product that is well-liked by its users, he further stated.

Esports is a significant and expanding industry throughout the world, and Fanclash is ideally positioned to become the worldwide leader in esports fantasy, according to Kitty Agarwal, Partner, Info Edge Venture Fund.

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