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Prime Securities Limited was an exclusive Investment Banker to this transaction.
The financing round was led by Prime Securities, Team India Managers Limited and existing investors which included a group of highly successful professionals, including Jyotivardhan Jaipuria (ex-Bank of America Merrill Lynch), the family of Harsha Bhogle (renowned cricket commentator), Sunil Sood (ex-MD & CEO, Vodafone) and Atul Kasbekar (eminent photographer/producer). Nikunj Doshi (Managing Partner – Bay Capital) also participated in this round in his personal capacity.
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| Amit Purohit |
Fantasy Akhada has seen phenomenal growth over the last 6 months after their fund raise in the month of April 2021. The user base has doubled over this period to touch almost 6 lakhs and the Annualized Gross Gaming Revenues have seen a 21x growth on the back of intelligent user acquisition and retention techniques. During this period, Fantasy Akhada has also been visible on top sports channels like Star Sports & Sony Sports Network, with properties like the English Premier League and the Indian Women Cricket Team’s tour of Australia.
Mr. Amit Purohit, Founder of Fantasy Akhada, welcomed all the incoming investors and said, “We are absolutely delighted to welcome our new set of investors. Prime Securities has been a true partner for us over the last 6 months and we could have not asked for a better Investment Banker on board in this journey. We will be leveraging this fund raise to drive our vision of enhancing sports engagement in sports fans and the entire team is absolutely kicked about this development, at the most opportune moment, just before the heavy duty T20 cricket season.”
Mr. Nischay Saraf, Senior Vice President, Early-Stage Financing, Prime Securities, delighted with this association, said, “At Prime, we like to identify high growth potential early-stage companies and partner with them. Fantasy Akhada has been one such example, where we had recently raised about US 1 mm in April 2021. The operational metrics have outperformed even the best-case scenarios of the management team, accelerating the estimates by 18 months. This phenomenal growth has led to the current round in a matter of six months backed by Prime’s network of HNIs and family offices. Given the understanding of the user life cycle and user experience that the team has, we are certain that they will be able to carve out a clear niche for themselves in this rapidly developing ecosystem.”
About Fantasy Akhada
Fantasy Akhada is the flagship product of a Fantasy Sports Startup, based out of Gurgaon. The company believes that Fantasy Sports is a key lever in enhancing the sports engagement of a fan / viewer. The platform has something to offer for the entire spectrum of Sports Fans. From the Predictions Game, which is for the casual fans, to various formats of Fantasy Sports, Fantasy Akhada aims to provide a wide range of game play options to sports fans in this country. The platform currently offers only Cricket and Football and will be soon expanding to Kabaddi and Basketball as well. On Fantasy Akhada, users can first hone their skills by playing Practice (Free) Contests. For those who wish to WIN money using their sports knowledge and selection skills, there are Public Cash Contests and Private Contests on the platform as well. Whether you are up for bragging rights or the money, come join us on https://www.fantasyakhada.com/
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