E-sports community engagement platform FanClash has raised $40 million in a Series B round from Sequoia Capital India, Falcon Edge, Info Edge India and Matic Networks (Polygon).
Entrackr had exclusively reported about its Series B financing round in March. So far, FanClash has raised a little over $50 million including a $10 million Series A round in August last year.
The fresh funds will be used to build a global esports fantasy, data and fan engagement platform, said the Gurugram-based startup in a statement.
Besides India, FanClash recently expanded to the Philippines and plans operations in Vietnam and the USA by early 2023. The company claims “tremendous growth” in the past year, but its download numbers couldn’t be tracked as FanClash’s app is only accessible via APK, an Android package kit.
According to the company’s website, it has conducted over 30,000 contests and has 60,000 active users on the platform and saw more than one lakh downloads.
Founded by Richa Singh and Rishabh Bhansali, FanClash is an esports platform for gamers to play and follow various games like FreeFire, PUBG Mobile, COD Mobile, COD PC, Valorant, CS:GO, League of Legends, and DOTA 2 among others with winning distribution of more than 50 lakh.
FanClash’s new investor Polygon and existing backer Sequoia are already deeply connected to each other. In February, the Silicon Valley-based VC firm led a $450 million round in the decentralised Ethereum scaling platform.
As per its annual financial statement filed with the Registrar of Companies (RoC), FanClash remained a pre-revenue stage startup with a loss of Rs 80.5 lakh in the fiscal year ending March 2021 (FY21).
