Sachin Tendulkar backed Smaaash raises Rs 25cr

Smaaash Entertainment, a sports-based entertainment company backed by Sachin Tendulkar has raised $3.8 million(Rs 25 crore) from Sixth Sense Ventures. The investment round is expected to value Smaaash at over $100 million. The deal is expected to be completed in a few weeks.

The investment by Sixth Sense, run by former IDFC Securities star equity analyst Nikhil Vora, is a part of the company's larger fundraising which is expected to be completed in the next few weeks.

Vora said, "I believe Smaaash will have an extremely interesting journey, being an entertainment player with a compelling product proposition and a futuristic global gaming play.” The funding round in Smaaash marks the tenth and final investment of the firm’s debut fund.

As per the RoC filings accessed by Inc42, the gaming startup also raised $6.6 million(Rs 45 crore) from the clutches of high-net-worth investors.

The company owns and operates gaming and entertainment centers that marries sports, virtual reality, music and dining into an immersive, evolved, interactive experience for family as well as children.

The centers are currently located in Mumbai, Hyderabad, Gurgaon, Noida and Bengaluru.

Smaaash was founded by seasoned serial entrepreneur Shripal Morakhia, who was behind institutional brokerage firm SSKI and retail brokerage firm Sharekhan. Shareholders of the company include Sachin Tendulkar, sports-focused investment firm Fidelis World, and BCCL.