FanCode raises $50 mn funding from parent company Dream Sports
1 min read 28 May 2021, 12:10 PM ISTWith this $50 million funding round, FanCode plans to accelerate growth and scale of its digital sports services and expand its team to include engineering and product development talent across various roles
PremiumNEW DELHI: Digital sports platform FanCode on Friday said it has raised $50 million from parent Dream Sports’ investment arm, Dream Sports Investments (DSI).
Set up in 2020, DSI makes investments in sportstech businesses. The investment arm is being headed by Dev Bajaj who joined Dream Sports as chief corporate development officer after quitting VC firm Kalaari Capital.
“FanCode is transforming the way sports is consumed online by focusing on long-tail sporting events and personalisation of content, commerce and sports statistics across all sports. We are happy to support FanCode’s efforts in scaling up the business and making sports more accessible to over 800 million fans in India," said Harsh Jain, CEO & co-founder of Dream Sports.
With this $50 million funding round, FanCode plans to accelerate growth and scale of its digital sports services and expand its team to include engineering and product development talent across various roles as well as leadership positions. FanCode has established three D2C (direct-to-consumer) revenue lines between FC Live (live sports content), FC Shop (official sports fan merchandise) and FC Stats (sports analytics and insights).
Yannick Colaco, co-founder of FanCode, said, “The funding from Dream Sports will help us enhance our existing offerings and invest in further innovation in the sports tech domain as we scale up to our goal of growing to a user base of 100 million sports fans by July 2022."
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