Chequered Flag Sports Pvt Ltd the company which owns the Esports team Hyderabad Hydras has just completed fundraising of an undisclosed amount as part of its first round of funding. Those who took part in this round of investing include some highly respected names like Mr Madhu Kela, Founder- of MK Ventures, Mr Neeraj Roy — Founder of Hungama entertainment among others. All the investors made this investment in their personal capacity. Hyderabad Hydras is one of India's leading Esports teams, which currently has a BGMI team on its roster. This team has finished 6th in the last edition of BGIS an official BGMI tournament conducted by the game publisher Krafton.
Hyderabad Hydras are also part of the Esports League ( ESPL) conducted by India Today Group. Hydras finished 4th in the 2021 edition of ESPL.
Hyderabad Hydras also have a roster of close to dozen content creators who promote the Hyderabad Hydras brand and also help in creating and building the esports ecosystem in the country at all levels. Their vision is to become a top team with marquee players in the fast-growing Esports ecosystem of the country by creating value by way of grooming talent and creating popular original content. The funds that have been raised would be utilized to realize this vision by adding more rosters and content creators and also creating some original content and also to create a best in class Gaming house and production house.
Commenting on his decision to invest in Chequered Flag Sports, Mr Neeraj Roy said "As one of the leading players in the Digital Entertainment field I know the potential of the Esports given the world's largest youth population, a large smartphone population, and one of the cheapest data rates. Hyderabad Hydras has a clear vision on how to become a leading player and this field and I am very pleased to be part of their journey and I will be guiding them in their journey."
Mr Madhu Kela said " I am really excited to become part of Hyderabad Hydras which is redefining the entertainment for the Gen Z which is a large emerging consuming class. One of the factors which attracted me to invest in Hydras is the quality of the team which is a fine balance of experience and youth."
Today Hyderabad Hydras have a YouTube fan base of about 5 million ( cumulative of team and players and creators) which is projected to grow to 20 million by end of the year. Hyderabad Hydras also works closely with regulatory bodies and government bodies to contribute its part toward policymaking and ensuring that esports is played in an ecosystem that is responsible, fair, and transparent.
Chequered Flag sports Pvt ltd is a Hyderabad-based new-age sports company set up by Mr Sirish Ravula, a serial entrepreneur and founder of RA Chem, Mr Prasad Mangipudi, Co-founder of Sportzlive which managed Premier Badminton League and Mr Aashwij Ravula a young gamer and sports enthusiast. The Company was formed in April 2021 and has just completed its first year of operations.