Ashneer Grover, the former co-founder and managing director of BharatPe who resigned from the fintech unicorn in 2020. Ashneer Grover new company – Third Unicorn Pvt Ltd last month. However, he did not disclose any specific details about its anticipated products or services.
A knowledgeable individual discloses: Third Unicorn Pvt Ltd, helmed by the former CEO of BharatPe – Ashneer Grover, has successfully secured approximately $4 million in seed funding for its venture; moreover, it is worth noting that this operation debuted with a fantasy sports platform called CricPe.
Additionally, Grover – the new venture’s founder – has enlisted Aseem Ghavri: an executive from Dubai-based blockchain services firm BlockTech Brew as a co-founder. However, email inquiries directed towards Grover remained unanswered until this report was filed. In further discourse; he emphasized that exclusive consideration will be given to investors based in India and requested venture capitalists to abstain from involvement. “VCs-SheC’s, please stay away. We use only desi/self-earned capital.”
While rejoicing in his 40th birthday last year, Grover took to the Twitter-sphere and declared: “I am prepared to step back into the business arena; it’s time for me—my sights set on creating another ‘unicorn’.” He further emphasized this sentiment with a decisive tweet–“Time for me”, he asserted,”to disrupt another sector. Welcome The Third Unicorn!”
BharatPe and Grofers are the two other unicorns Grover was associated with.
The official website of CricPe showcases unique features that set it apart in its space: notably, users can bestow real-world cricketers with monetary rewards; a functionality not commonly found on similar platforms.
According to a joint report by the Federation of Indian Fantasy Sports (FIFS) and Deloitte, Dream11–which dominates India’s fantasy sports segment with a market size exceeding Rs 34,000 crore–will face significant competition from CricPe.
Nazara Technologies’ Halaplay, My 11 Circle and Mobile Premier League are among the other companies in this sector.
Online news portal Entrackr reported the development first.
On January 10, Grover— in collaboration with his wife Madhuri Jain who co-founded Third Unicorn— Ashneer Grover new company released a tantalizing document: “Let’s get some work done in 2023!” The Third Unicorn team has steadfastly, quietly and strategically been erecting an enterprise that promises to disrupt the market profoundly. Bootstrapped. Without limelight. And we are doing things differently. Very differently,” he said in a LinkedIn post.
Notably, during Grover’s leadership at BharatPe, he offered engineers joining the company BMW bikes; furthermore, he also promised a Mercedes car to employees who would complete five years with the organization.
He also articulated in his post: the company will eschew any financial injections from venture capital firms–opting instead for ‘self-earned’ capital; furthermore, he underscored a cap on team size at 50 employees. Notably, for every public or private contest, Crickpe shall levy a platform fee amounting to 10% of the total funds received. However, it will also let users enter free contests.
Crickpe’s Google Play Store page provides the following information: The game rewards a portion of each pot to actual cricketers–this allocation is directly proportional, based on their fantasy points earned, to their real-life performance in matches.
Additionally, users can reward a cricketer with up to Rs 1 lakh in one financial year; however, it rests upon the cricketer’s discretion to accept or decline the offered reward. Should the cricketer choose acceptance over rejection – applicable taxes and a processing fee of 10% would apply onto this granted amount? Crickpe, as a promotional gesture articulated on its website, avows not to levy any processing fee until June.