In the latest startup deals, gaming platform Fantasy Akhada has raised $11 million funding, while fintech platform GrayQuest has raised about $7 million in its Series A funding round.
Florintree leads Fantasy Akhada’s round
Super Six Sports Gaming Pvt Ltd. (SSSG), the parent company of daily fantasy sports brand Fantasy Akhada, has raised $11 million in a fresh round of funding led by Florintree Advisors (run by Mathew Cyriac, ex-MD of Blackstone India).
The financing also saw participation from existing investors Mukul Agrawal (Param Capital) and Varalakshmi Enterprises (Family Office of the GMR Group). The fresh infusion takes Fantasy Akhada’s total funding to over $20 million till date, the startup said in a statement.
The company plans to utilise the funding to strengthen its position in the market and launch a new brand that focuses on streaming, content, and analytics. Additionally, the company is focused towards building technology products that will drive sports engagement in the country.
Launched in 2020, Gurugram-based Fantasy Akhada claims to have seen phenomenal growth over the past three years. The startup is currently valued at $135 million, per the statement.
Pravega leads GrayQuest’s Series A funding
GrayQuest, a fintech company focused on providing payment solutions for the education sector, has raised about $7 million (Rs 56 crore) in its Series A funding round, the company announced on Thursday.
The round was led by Pravega Ventures and also saw the participation of family investors such as Weizmann Group, Telama Family Office, and Apurva Parekh (Pidilite Family Office). Existing investors such as the family offices of Ashok Wadhwa (Founder – Ambit Capital) and Yogesh Mahansaria also invested in the round, the startup said in a statement.
The startup will utilise the proceeds to further enhance its product offerings and scale up distribution.