Indian esports startup FanClash raises $40m

Indian esports startup FanClash has secured a Series B round investment of $40m (~£32m), led by Sequoia Capital, Falcon Edge and Info Edge India, as well as Matic Network.

The company plans to use the funds to scale and hire additional talent for its fantasy esports platform and esports tournament operations.

FanClash was founded two years ago in India and is a fast-growing company focused on creating an esports fantasy ecosystem. Similar to cricket or football, players can create teams made out of real-life esports players and score points relative to in-game performances of those players.

The company claims that there are more than 200,000 users on its fantasy leagues and that it supports fantasy leagues in 10 games. These include League of Legends, Dota 2 and Call of Duty.

FanClash also organises smaller-scale esports tournaments across a number of different games, such as PUBG, CS:GO, VALORANT, Free Fire and Call of Duty Mobile. Users of the platform can gain monetary rewards in the fantasy leagues, as well as through weekly and daily tournaments and challenges.

The cash injection follows another sizeable investment for the company. FanClash closed a Series A round worth $10m (~£8.1m) in August 2021, which brings total investment to just over $50m (£40.8m) in less than three years. This makes it one of the fastest-growing gaming startups in India.

Richa Singh, Co-founder of FanClash said in an interview for TechCrunch: “We aspire to be a household name in the global gaming community. At a broader level, our vision is to make the Indian startup ecosystem proud by creating a global digital product from India. We believe we have the right ingredients to become world leaders.”