The former MD and co-founder of BharatPe, Ashneer Grover, has launched a new venture called Third Unicorn Private Limited, which has already raised $5 million at a valuation of close to $36 million. Third Unicorn has been backed by celebrity investors such as musician Badshah and the family office of food giant Haldiram, as well as early-stage fund Venture Catalysts. The company’s first product is a fantasy cricket app called CrickPe, which Grover believes will become profitable by the end of this year’s IPL season. Despite heavy competition from other fantasy gaming apps, Grover claims CrickPe will not spend lavishly on marketing or brand endorsements with cricketers.
In addition to CrickPe, Third Unicorn plans to launch other products in the near future, including an insurance offering. However, Grover’s launch of CrickPe comes at a time when he is caught up in multiple lawsuits filed by his former company, BharatPe, and its co-founders over alleged irregularities in operations and financial reporting. Despite the legal tussles, Grover stated that he is only a call away from settling the disputes, but with conditions on who he will talk to.
Grover’s launch of CrickPe has come at a time when he is embroiled in several lawsuits filed against him by BharatPe and its co-founders. The company and its former MD have been involved in a public drama over the past year, with allegations of irregularities in operations and financial reporting. Grover’s wife, who was also a part of BharatPe, was ousted from the company, and BharatPe is now looking to claw back the shares held by Grover. Despite these legal disputes, Grover has stated that he is willing to settle them, but with certain conditions on whom he will talk to.