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HomeStartupsDream11 Acquires AI-Pushed Fantasy Sports activities Startup FanDuniya

Dream11 Acquires AI-Pushed Fantasy Sports activities Startup FanDuniya

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Based in 2018, FanDuniya supplied its customers with the widest information protection, statistical instruments and AI-driven fashions to assist them make knowledgeable choices throughout a fantasy cricket match

After the acquisition, FanDuniya founder Ramkumar Venkatasubramanian and cofounder Viswanath Kommalapati have each joined Dream11-owned multi-sport aggregator platform FanCode

FanCode was launched by Dream11 in March 2019 as a personalised ad-free multi-sport aggregator providing information, stay match scores, research-based insights, fantasy sports activities statistics,

Dream Sports activities, the mum or dad firm of fantasy sports activities platform and IPL 2020’s title sponsor Dream11 has acquired synthetic intelligence (AI)-backed fantasy sports activities startup FanDuniya.

A supply near the event informed Inc42 that the acquisition accomplished this month. After the acquisition, FanDuniya founder Ramkumar Venkatasubramanian and cofounder Viswanath Kommalapati have each joined Dream11-owned multi-sport aggregator platform FanCode, as indicated on their respective LinkedIn profiles.

FanCode was launched by Dream11 in March 2019 as a personalised ad-free multi-sport aggregator providing information, stay match scores, research-based insights, fantasy sports activities statistics, skilled fantasy ideas, sport evaluation, and entry to interact with different sports activities followers.

FanDuniya’s web site is presently inaccessible, which means that it could be merging with FanCode’s platform. FanDuniya’s cell app has additionally been taken down from the Google Play Retailer and iOS App Retailer. The quantity for the acquisition couldn’t be ascertained.

Dream11 and FanDuniya representatives didn’t reply to Inc42’s queries by the point of publication.

It’s price noting that each firms are collaborating this yr throughout the ongoing season of the Indian Premier League (IPL), with movies by a YouTube channel titled “Dream11 Expert Predictions by FanDuniya” being launched forward of IPL matches.

Based in 2018 by Venkatasubramanian, FanDuniya supplied its customers, who had been fantasy cricket gamers, with the widest information protection, statistical instruments and AI-driven fashions to assist them make knowledgeable choices for a fantasy cricket match.

Based in 2008 by Harsh Jain and Bhavit Seth, Dream11, which turned the title sponsor for the Indian Premier League this yr, is essentially the most notable startup in India’s burgeoning fantasy sports activities ecosystem. It’s also the one Indian gaming startup to have attained unicorn standing (startups with a valuation of $1 Bn). Dream11 claims to have greater than 9 Cr customers on its platform, taking part in fantasy cricket, soccer, kabaddi, basketball, hockey, volleyball, American soccer, baseball and handball. The corporate is flush with funds and is trying to ramp up its choices by a slew of acquisitions.

Dream11 final raised $225 Mn from Chrys Capital, Footpath Ventures, Tiger International Administration and TPG in September. Earlier than that, it had raised $60 Mn from Hong Kong-based different asset administration agency Steadview Capital in 2019. In 2018, it raised $100 Mn from Chinese language tech conglomerate Tencent International.

Fantasy Sports activities On The Rise In India

Indian on-line fantasy sports activities platforms have witnessed a surge in customers within the final three to 4 years, says a report by the Federation of Indian Fantasy Sports activities (FIFS), of which Dream11 is a founding member.

The section’s person base has grown exponentially within the final three years, from 20 lakhs in 2016 to 9 Cr customers in 2019, registering a 4,400% improve. Additional, the variety of customers for on-line fantasy sports activities is predicted to succeed in 10 Cr by the tip of this yr. This has additionally led to a surge in income for the sector, from INR 920 Cr in 2018-19 (FY19) to INR 2,400 Cr in FY20, a 160% improve in income.

This additionally led to a rise in GST collections from the sector, to the tune of INR 445 Cr in FY20, a 2.6x improve from the INR 166 Cr collected in FY19. Indian fantasy sports activities business is rising at a CAGR of 32% and its price is predicted to be $3.7 Bn by the year-end 2024.

Fantasy sports activities are held to be skill-based digital leisure platforms, the place sports activities followers can create their very own fantasy sports activities groups, made up of real-life gamers from upcoming matches. Fantasy sports activities are performed throughout cricket, soccer, kabaddi, basketball and different common sports activities. If the participant picked by the fantasy sports activities person in his/her workforce finally ends up performing properly within the real-life match, the person stands to earn money prizes and different rewards.



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