Fantasy Akhada Raises Pre-Series A Funding

The startup will use the finances to consciousness on improving the in–residence tech capability, be competitive with their person acquisition and retention strategies, and scaling up the organization.

Gurugram-primarily based totally on-line myth sports activities platform Fantasy Akhada, on Wednesday, introduced to have secured approximately $2 million in a pre–Series A spherical. The financing spherical changed into led through Prime Securities, Team India Managers Limited, and present traders which blanketed a set of surprisingly a hit professionals, which include JyotivardhanJaipuria, the own circle of relatives of Harsha Bhogle (cricket commentator), Sunil Sood (Vodafone), and Atul Kasbekar (photographer/producer). Nikunj Doshi (Bay Capital) additionally participated on this spherical in his non-public capacity.

Prime Securities Limited changed into an unique Investment Banker to this transaction.

The startup will use the finances to consciousness on improving the in–residence tech capability, be competitive with their person acquisition and retention strategies, and scaling up the organization.

“We are virtually overjoyed to welcome our new set of traders. Prime Securities has been a real companion for us over the past 6 months and we ought to have now no longer requested for a higher Investment Banker on board on this journey. We might be leveraging this fundraise to pressure our imaginative and prescient of improving sports activities engagement in sports activities lovers and the whole crew is virtually kicked approximately this development, on the maximum opportune moment, simply earlier than the heavy-responsibility T20 cricket season,” stated Amit Purohit, founder, Fantasy Akhada.

Fantasy Akhada has visible increase over the past 6 months after their fundraise in the month of April 2021. The person base has doubled over this era to the touch nearly 6 lakhs and the Annualized Gross Gaming Revenues have visible a 21 time increase at the returned of clever person acquisition and retention techniques. During this era, Fantasy Akhada has additionally been seen on pinnacle sports activities channels like Star Sports and Sony Sports Network, with houses just like the English Premier League and the Indian Women Cricket Team’s excursion of Australia.

“At Prime, we love to pick out excessive increase capacity early-degree agencies and companion with them. Fantasy Akhada has been one such example, in which we had these days raised approximately $1 million in April 2021. The operational metrics have outperformed even the best-case situations of the control crew, accelerating the estimates through 18 months. This out of the ordinary increase has caused the modern-day spherical in a remember of six months sponsored through Prime’s community of HNIs and own circle of relatives offices. Given the knowledge of the person existence cycle and person revel in that the crew has, we’re positive that they’ll be capable of carve out a clean area of interest for themselves on this unexpectedly growing ecosystem,” delivered Nischay Saraf, senior vice president, early-degree financing, Prime Securities.