Indian esports startup FanClash has secured a Series B funding round investment of $40m (~£32m), led by Sequoia Capital, Falcon Edge, Info Edge India and 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 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 the in-game performances of those players.
The company claims to have more than 200,000 users in its fantasy leagues. It says it supports fantasy leagues in 10 titles, featuring 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 its total investment to just over $50m (£40.8m) in less than three years.
Richa Singh, Co-founder of FanClash said in an interview with 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.”