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Esports startup FanClash raises $40M from Sequoia, Falcon Edge, Info Edge, Matic Networks

Bengaluru-based esports startup FanClash has raised $40 million in Series B funding to fuel its mission to build a global esports fantasy, data, and fan engagement platform. Existing investors, including Sequoia Capital India, Falcon Edge and Info Edge India along with Matic Networks (Polygon), co-led the latest fund raise.

This succeeds a Series A round of $10 million from Sequoia Capital India, Falcon Edge (Alpha Wave Ventures), and Info Edge India in August 2021.

“The company plans to use the funds raised for global expansion, building the team, and user acquisition. FanClash released its product in India in 2021 and in the Philippines in June 2022, and aims to launch in Vietnam and the US by early 2023,” said a spokesperson from the company.

Founded in mid-2020, FanClash started its journey as a fantasy gaming application for all core esports viewers and has evolved into Asia’s largest esports fantasy platform with operations in India and the Philippines.

“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. 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. The industry has corroborated this by the stellar adoption of FanClash in the last 12 months,” said Rishabh Bhansali, Co-founder of FanClash.

A forum for fans

As per the startup, there are 500 million core esports viewers globally, growing at 20 percent CAGR. In India, this number stands at 100 million and is expected to grow threefold by 2025.

FanClash provides a forum for fans to not just enjoy the game as a viewer, but also empowers them to monetise their knowledge of esports. Users can create their fantasy teams from every tournament and earn rewards based on the real-life performance of the teams. This is like monetising the knowledge of cricket or football via other fantasy platforms.

The platform enables users to play fantasy on all global tournaments across top esports such as FreeFire, PUBG Mobile, COD Mobile, COD PC, Valorant, CS:GO, League of Legends, DOTA 2 etc.

“We aspire to be a household name in the global gaming community. This is possible in esports, unlike traditional sports, because the underlying game titles have a global audience. At a broader level, our vision is to make the Indian startup ecosystem proud by creating ‘a global digital product from India, for the world’ and we believe we have the right ingredients to become world leaders,” said Richa Singh, Co-founder of FanClash.

FanClash seems to be an intriguing startup with inspiring development on computer games platform. I’m certain this startup would keep on thriving in its excursion ahead. All the best to the whole group on FanClash. This will give them an enormous achievement in the future.

Shishir Gupta, Founder and CEO, StartupLanes

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