The new venture, however, is still in beta mode and is yet to go live for the public.
Grover will be competing in a space that has seen many new-age firms mushroom over the past couple of years, with Tiger Global-backed Dream11 emerging as the biggest player.
Grover, who was ousted from BharatPe last year amid financial irregularities found at the fintech firm, has launched the startup just before the start of this year’s Indian Premier League (IPL) slated to begin on March 31. IPL typically witnesses viewer traction and heightened activity on fantasy cricket platforms.
According to several media reports, CrickPe will allow players to participate in different contests by either creating private groups or playing with real cricketers to win cash rewards. Further, the app will also serve as a platform for those who want to enter into free contests to hone their skills.
Last month, Grover gave a sneak peek into his new venture via a LinkedIn post.
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“We at Third Unicorn have been quietly and peacefully building a market-shaking business. Bootstrapped. Without limelight. And we are doing things differently. Very differently,” Grover said in his post.In his post, Grover also highlighted an overarching framework of his upcoming venture. Taking a dig at the venture capital (VC) community, Grover said he only believes in “desi” (homegrown) or “self-earned” capital.
The team at Third venture will not be more than 50 members and the idea will be to “generate $1 billion in revenue”. He said the startup would not have a regular board like in other companies, referring to his soured relationship with investors and board members following the high-pitched controversy at his former firm BharatPe.
Also read | In 5 stories: BharatPe’s tumultuous year
Ongoing legal troubles
Grover and his wife Jain are embroiled in a bitter legal battle with BharatPe after allegations of financial irregularities surfaced in January 2022, leading to their exit from the fintech startup.
The Delhi High Court on Monday granted Grover, his wife Madhuri Jain Grover, and their family members more time to file responses to a legal suit filed by the fintech firm, which has sought Rs 88 crore in damages for alleged misappropriation of funds and reputational harm.
The court asked Grover – through his legal counsel – to maintain decorum and not speak against the company and its executives.
In December, BharatPe filed civil and criminal suits against the defendants and a complaint filed with the Economic Offences Wing (EOW).
It also approached the Singapore International Arbitration Centre (SIAC) seeking to claw back Grover’s restricted shareholding in the company, ET reported on December 10.
Also read | 2022 Year in Review | The Ashneer Grover-BharatPe saga