FanClash, an e-sports community engagement platform, raised $40 million in a Series B round with the help of investors such as Sequoia Capital India, Falcon Edge, Info Edge India and Matic Networks (Polygon).
FanClash had generated slightly greater than $50 million till present, along with a $10 million Series A investment in August of last year. As per the Gurugram-based business, the newly generated money will be used to develop a worldwide esports fantasy, analytics, and fan interaction portal.
FanClash has been recently extended to the Philippines and hopes to open offices in Vietnam and the United States by early 2023.
The startup boasts “massive growth” over the last year, but installation counts are impossible to monitor because FanClash’s application is only available as an APK (Android package kit). As per the firm’s site, it has had over 30,000 events, boasts 60,000 active members, and has generated over one lakh installations.
FanClash, established by Richa Singh and Rishabh Bhansali, is an esports service that allows gamers to participate in and watch games such as FreeFire, PUBG Mobile, Call of Duty (COD) Mobile, COD PC, Valorant, CS:GO, League of Legends, and DOTA 2, among others, with a prize pool of more than 50 lakh rupees.
Richa Singh, Co-Founder and Chief Executive of FanClash, said, “We focus only on core esports tournaments. We are not looking into casual games. Our thesis is that the world is seeing the emergence of a new kind of sport, and when there’s a new sport, there will be a data layer and a fantasy layer built on top of it.
“These esports have larger following than cricket, but they lack data and fantasy layers.”