Hyderabad, August 25, 2020: Andhra Pradesh based fantasy sports company, FreeHit Fantasy Sports, has raised INR 4,00,00,000 as angel investment. The amount will be utilised to fund the company’s ambitious growth plans for acquiring 10Mn users by the end of 2021. It will be available on iOS, Android and the web from 30th August and will be the first application in the country to offer assured winnings in addition to contests as low as Re. 1. The fantasy gaming application will have a hyperlocal approach and will be available in 8 Indian languages soon.
FreeHit Fantasy was founded by Prathyush Chowdary, Tarun Varma Dandu and Ramana Kovelamudi from Hyderabad. This is the first time that a company from the Telugu states has raised funding of this scale. As per a report by KPMG, fantasy gaming is set to be an INR 119 Bn industry by FY23.
