Dream Capital, the corporate venture arm of Dream Sports, is in advanced talks to seek to lead a $100 million financing round for cricket NFT startup Rario, three people familiar with the matter said. If the transaction goes through, it will be one of the largest investments in the NFT space in India and Dream Capital’s first bet on the Web3 space.
It is reported that Rario was founded in 2021 by Sunny Bhanot and Ankit Wadhwa. It received an undisclosed amount of funding last year from investors including Presight Capita and Kingsway Capital.
The platform has licensed NFTs from five international leagues and nearly 600 international cricketers through its various partnerships. According to sources, Rario and Dream Sports are exploring additional partnerships.
