Fantasy sports platform, Fantasy Akhada has raised about $2 million in a pre-Series A round through Prime Securities, Team India Managers Limited and other existing investors.

Fantasy Akhada will use the funds to focus on enhancing the in-house tech capability, be aggressive with their user acquisition & retention strategies and for scaling up the organisation.

Fantasy Akhada is one of the most customer centric fantasy sports platforms in the country and drives the vision to “enhance sports engagement among fans.”

Prime Securities Limited was an exclusive investment banker to this transaction. The financing round was led by Prime Securities, Team India Managers Limited and existing investors which included Jyotivardhan Jaipuria (ex-Bank of America Merrill Lynch), the family of Harsha Bhogle ( cricket commentator), Sunil Sood (ex-MD & CEO, Vodafone) and Atul Kasbekar (t photographer/producer). Nikunj Doshi (Managing Partner – Bay Capital) also participated in this round in his personal capacity.

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Amit Purohit, Founder of Fantasy Akhada, said, “We will be leveraging this fund raise to drive our vision of enhancing sports engagement among fans. The entire team is absolutely kicked about this development, at the most opportune moment, just before the heavy duty T20 cricket season.”

Nischay Saraf, Senior Vice President, Early-Stage Financing, Prime Securities said, “At Prime, we like to identify high growth potential early-stage companies and partner with them. Fantasy Akhada has been one such example, where we had recently raised about $1 million in April 2021. The operational metrics have outperformed even the best-case scenarios of the management team, accelerating the estimates by 18 months.”

Purohit added, “This phenomenal growth has led to the current round in a matter of six months backed by Prime’s network of HNIs and family offices. Given the understanding of the user life cycle and user experience that the team has, we are certain that they will be able to carve out a clear niche for themselves in this rapidly developing ecosystem.”

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