---

Fantasy Akhada’s Parent Company Valued At $135 Million After Fundraising

Super Six Sports Gaming (SSSG), the parent company of Fantasy Akhada, has raised $11 million. Florintree Advisors led the funding round, allowing the firm to raise some cash with a senior executive sharing that the value of SSSG has gone up to $135 million after the fundraising.

Founded in 2020 by Ankit Upreti, Amit Purohit, Amit Bhardwaj, Sahil Ahuja Pratik Gosar, and Sumit Jha, Super Six Sports Gaming has so far raised over $20 million in exchange for equity capital. According to Mint, the company will look to introduce a new brand after the additional funding.

Fantasy Akhada to expand its verticals?

It is speculated to focus on sports streaming, content, and analytics. The fundraising also provides them with a cash flow that will be used for commercial expansion as well as for the development of technologies. Amit Purohit, the Group chief executive at Super Six Sports Gaming, shared his thoughts after the latest round of funding.

He claims that the firm is predicted to end the ongoing fiscal year with a Contest Entry Amount (CEA) worth nearly over 600 crores. He also shared that it will be a significant increase from FY22 but also refrained from revealing the amount of the previous year.

CEO of SSSG comments on raising funds 

Purohit said, “In January 2023, we achieved operational profitability for the first time and demonstrated a clear path to company-level profitability. The fact that we achieved a big milestone in that journey in January has given us a lot of confidence that we can deliver more brands that will enhance the sporting culture in India. This fundraiser will help us achieve the current business plan.”

---

Also Read: Smriti Mandhana’s WPL Salary Has Babar Azam Get BRUTALLY Trolled

---

Florintree Advisors is a private equity firm which invests in growth-stage technology based companies. Mathew Cyriac revealed his thoughts on the firm’s latest investment. He is quoted saying, “There is a digital revolution that we are witnessing in India with one billion smartphones in the hands of people. Technology would be the key to making India a truly multi-sport nation. The company has a clear vision to expand beyond gaming and become a force to reckon with within the sports tech space.”

Companies like Fantasy Akhada are a big part of the rapidly expanding fantasy gaming market in India. Many brands have entered the fantasy gaming market over the last decade. Experts have labelled it as the most significant sign of progress with the industry also catching sees the central government making rules and amendments.   

For more fantasy sports news and poker promotions, keep reading GutshotMagazine.com. Follow us on Facebook, Instagram, Twitter, and Telegram. 

---

---

More News

---

Comments