As IPL slowly rolls out the official sponsors for its 2020 edition to be held in UAE from September 19, more and more startups are emerging as the money backers.
Edutech startup Unacademy has bagged the central sponsor deal for the Indian Premier League, while Dream11 is the title sponsor.
Startups like Paytm and Mobile Premier League are also sponsors in the cricketing league.
Edutech startup Unacademy has bagged the central sponsor deal for the Indian Premier League (IPL). While the details of the deal and an official confirmation are awaited, reports say the startup could be paying ₹120-130 crore for three years.
The sponsorship from Unacademy comes at a time when the edutech startup is on the verge of closing an investment from SoftBank, which will catapult it into the unicorn club.
IPL’s new wave of sponsors – the young Indian startups
As the IPL slowly rolls out its official sponsors for the 2020 edition to be held in UAE from September 19, more and more startups are emerging as the money backers. This brings about a significant change for the premier cricketing tournament, which has received sponsorships from big moneybags like DLF, Pepsi, Vivo, Future Group amongst others earlier.
Unacademy’s sponsorship also comes right on the heels of gaming unicorn Dream11 bagging the title sponsorship rights for the IPL. Dream11 paid ₹222 crore for the deal after the Chinese giant Vivo had to be put aside for this year’s IPL amid the rising Indo-China tensions at the border.
Unacademy and Dream11 aren’t the only two startups that are pouring money into the glitzy IPL. Another gaming platform Mobile Premier League is the official sponsor of the Virat Kohli led team Royal Challengers Bangalore. Paytm is the official Umpire’s partner for IPL.