Fantasy Akhada has set its eyes to tap into India’s sporting revolution. The company has secured $11 million in a new funding round led by Florintree Advisors, a firm run by Mathew Cyriac, ex-MD of Blackstone India.
With this new funding, Fantasy Akhada is well-positioned to continue its growth trajectory and further establish itself as one of the top fantasy sports brands in India.
Founded in 2020 by Amit Purohit, Amit Bhardwaj, Ankit Upreti, Pratik Gosar, Sumit Jha, and Sahil Ahuja, Fantasy Akhada plans to use the funds to strengthen its position as one of the best fantasy sports brands in India. The company will also launch a new brand that focuses on streaming, content, and analytics, while developing world-class technology products that will drive sports engagement in the country.
Sumit Kumar Jha, Founder and Group COO of SSSG, the parent company of Fantasy Akhada, said, “We are excited to onboard a fresh set of investors. Some of our existing investors have also shown their confidence in our vision once again. We are committed towards increasing sports engagement in the country through technology. We believe that sports consumption in India has massive headroom for growth and we will help accelerate the same. The country, I believe, is at the cusp of a sporting revolution.”
Fantasy Akhada has a clear vision to lead the sporting sector
Florintree Advisors’ Mathew Cyriac believes that technology will play a crucial role in transforming India into a truly multi-sport nation. “There is a digital revolution that we are witnessing in India with one billion smartphones in the hands of people,” he said. “The company has a clear vision to expand beyond gaming and become a force to reckon with in the Sports Tech space.”
The Indian fantasy sports industry has grown rapidly in recent years, and Fantasy Akhada has established itself as a leading player in the space. The platform, which allows users to create their own virtual teams and compete against each other, has a loyal user base and is constantly innovating to provide new and exciting experiences for its users.
Existing investors, including Param Capital and Varalakshmi Enterprises, also participated in the funding round, bringing the total amount raised by the company to over $20 million.