Smaaash Entertainment, a sports-based entertainment company which is backed by former Indian cricketer Sachin Tendulkar, has now announced that it has secured a new funding round worth ₹25 crore from Sixth Sense Ventures.
However, the company has not yet closed this funding round. The funding is a part of the company’s larger fund raising which is expected to be completed in the next few weeks.
While the company has not revealed its valuation after fundraising activity, sources aware of the matter have suggested that Smaaash Entertainment could be valued at over $100 million.
The company has also managed to raise around ₹43 crore from a slew of high net-worth investors (HNIs) in the recent weeks. The valuation of the company will depend on the final round size.
Smaaash Entertainment was founded by seasoned serial entrepreneur Shripal Morakhia, who was behind institutional brokerage firm SSKI and retail brokerage firm Sharekhan.
Its operations begun in 2012 with its first centre of over 40,000 sq ft in Mumbai. It currently manages over 600,000 square feet of area in India. The company owns and operates digital entertainment centres for sports such as cricket, football, go-karting, bowling as also virtual games in 30 centres across India along with the US, China and the Middle East.