FanClash
- FanClash was founded in 2020 and has raised UIS$50.5m
- Funding will be used to expand platform with plan for rewards
Indian fantasy esports gaming startup FanClash is plotting global expansion after raising US$40 million in fresh funding.
The Series B round was led by Alpha Wave Global, with participation from Sequoia Capital India, Info Edge and Polygon, bringing the total amount raised by the company to $50.5 million since it was founded two years ago.
Its game allows users to create fantasy teams comprising esports athletes across multiple disciplines and the ultimate plan is for there to be prizes that rewards fans for their fandom.
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The platform went live in India last year and launched in the Philippines last month. The new funding will be used to hire more staff and scale its platform so it can target new markets, specifically Vietnam and the US.
“Esports fans around the world spend about 8-10 hours a week watching tournaments and gameplay, yet there are not enough avenues for players and viewers to monetise their knowledge in any way,” said Rishabh Bhansali, co-founder of FanClash.
“Our customers love FanClash not only because it gives them the opportunity to compete in fantasy games, but also for making them financially independent and hence taken seriously as esports fans.”
SportsPro says…
Fantasy sports applications are popular India, with brands like Dream11 attracting millions of players to its games based on cricket, soccer, and other sporting events.
With the esports space attracting significant interest and growing fanbases, FanClash believes the same principles of fantasy games can be applied to events involving DOTA 2 or League of Legends.
To achieve success in esports FanClash might well have to look at securing official partnerships with the bigger properties as professional gaming fans are renowned for their brand loyalty.
