FanClash has secured $40 million in a Series B funding round. The Bengaluru-based startup will use the money to fuel its mission to develop a global esports fantasy, data, and fan engagement platform.
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 fund raising 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.
A FanClash representative stated, “The firm expects to use the cash received for worldwide expansion, strengthening the staff, and user acquisition. FanClash launched in India in 2021 and the Philippines in June 2022, with plans to expand to Vietnam and the United States in early 2023.”
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.
Rishabh Bhansali, co-founder of FanClash, said, “Esports fans across the world spend roughly 8-10 hours a week watching competitions and gaming. However, there are not enough outlets for players and spectators to monetise their expertise in any manner. 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 has backed this up with FanClash’s rapid acceptance in the previous 12 months.”
According to the startup, there are 500 million core esports watchers worldwide, with a CAGR of 20%. This number currently stands around 100 million in India, and it is predicted to triple by 2025.
FanClash provides a platform for fans to not only enjoy the game as spectators, but also to profit from their esports knowledge. Users may establish fantasy teams for each event and get awards based on how well their teams do in real life. This is similar to monetizing cricket or football information through other fantasy sites.
Users may participate in fantasy competitions for FreeFire, PUBG Mobile, COD Mobile, COD PC, Valorant, CS:GO, League of Legends, DOTA 2, and other popular esports.
According to the startup, there are 500 million core esports watchers worldwide, with a CAGR of 20%. This number currently stands around 100 million in India, and it is predicted to triple by 2025.
FanClash provides a platform for fans to not only enjoy the game as spectators, but also to profit from their esports knowledge. Users may establish fantasy teams for each event and get awards based on how well their teams do in real life. This is similar to monetizing cricket or football information through other fantasy sites.
Users may participate in fantasy competitions for FreeFire, PUBG Mobile, COD Mobile, COD PC, Valorant, CS:GO, League of Legends, DOTA 2, and other popular esports.
FanClash co-founder Richa Singh stated, “We hope to be a household name in the worldwide gaming community. Unlike conventional sports, this is achievable in esports since the underlying game titles have a worldwide audience. On a larger scale, our goal is to make the Indian startup ecosystem proud by developing “a global digital product from India, for the world,” and we think we have the proper ingredients to do it.”
