Recently, the Beryllium has announced that they have raised three million US Dollars. It was funding led by Bullpen Funding capitals and a sports betting firm from the United States, Fan duel as the portfolio company.
The investments came from the Malaysian group and Beryllium investors. Beryllium was founded in 2019 by Amay Makhija, and it aims to focus on integrated trading merchandise of fantasy sports into games. It secured US$600,000 in November 2019.
The funds will be used in start-ups to help them expand their teams and engineering resources to explore more products, game formats, and resources. Beryllium wants its headquarters in Singapore, and they also want to expand its products in foreign markets.
The gobble fantasy sports market, Allien Market research, was valued at 18.6 US Billion Dollars, and they might reach 48.6 million dollars in 2027. In America, football, ice hockey, basketball and cricket is the most followed games.
India has the most users of fantasy sports. Due to such a large market, there are 70 fantasy sports applications are available now. In 2016, the usage of the fantasy sports app was two million. But in 2020, it went up to 100 million users.