Mumbai-based Dream11, which is run by Sporta Technologies Private Limited, reported a profit of Rs 181 crore (Rs 1.81 billion) in FY2020, making it one of the few Indian consumer-tech unicorns to have turned profitable.
Following their passion paid off for Harsh Jain and Bhavit Sheth with their fantasy sports platform Dream11 entering the unicorn club with a valuation of over $1 billion.
CAIT is against BCCI selecting Dream 11 as the sponsor of IPL 2020 since it has Chinese company Tencent Global as one of its major stakeholders.
The new round values the company at $2.5 billion, more than double the over $1 billion valuation Dream 11 enjoyed in April 2019 when it was declared the country's first gaming unicorn.
Chinese sponsorship became a bone of contention after the BCCI declared it would review the deals following the violent clashes between the armies of both the countries in eastern Ladakh.
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