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Mumbai, May 28
Digital sports platform FanCode has raised $50 million from parent Dream Sports’ investment arm, Dream Sports Investments (DSI), the company said on Friday.
Fancode was founded by sports industry veterans Yannick Colaco and Prasana Krishnan, in 2019. The platform offers personalised experience across sports content, commerce and sports statistics.
With the new funding round from the parent company, FanCode is planning to accelerate the growth and scale of its digital sports services to expand the sports fan platform in India. It is also planning to expand its team to include top engineering and product development talent across various roles as well as leadership positions.
Harsh Jain, CEO & Co-Founder of Dream Sports, said, “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.”
Expansion of user base
“Since our launch in 2019, FanCode has aimed at providing a unique, seamless and personalised digital sports experience to every Indian fan. 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 next year,” said Colaco.
Krishnan said, “The investment from Dream Sports is a testament to the growth and potential of FanCode, and we look forward to scaling our business, continuing to create unique digital fan experiences, forging more strategic partnerships and bringing onboard the best talent.”
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). Currently, FanCode covers multi-sports categories and has exclusive live streaming rights in India for Cricket West Indies, New Zealand Cricket (domestic matches), Bundesliga, Malaysia Cricket, and Major League Baseball.
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