Mobile Premier League is an online gaming and eSports platform that raised $95 million from Series D financing.
Composite Capital and Moore Strategic Ventures were the main sponsors of the latest round, bringing the total investment to $225.5 million and the value to $945 million. Base Partners, Telstra Ventures, SIG, Go-Ventures, Founders Circle, RTP Global, and Play Ventures participated.
These funds can be utilized to increase the range of eSports offered by the company, as well as to help organize more international and national E-Sports events and speed up the expansion of international markets.
India Mobile Premier League (MPL) Raised $95M With an Estimated Valuation of $945M
MPL is a leading Asian mobile gaming and eSports platform launched in 2018 with the help of Sai Srinivas and Shubh Malhotra, which has over sixty million users across India and 3.5 million users in Indonesia. With more than 50 games in categories currently accessible in the Android or iOS apps, MPL has worked with 28 game developers to release games to the MPL platform and give the games a new revenue stream.
The company has offices across Bengaluru, Pune, Jakarta and Singapore. The gaming platform employs nearly 500 employees.
The business claims it will utilize the additional funds to fuel its global expansion and to hold more local esports tournaments. The startup recently held its first College Premier League, which attracted more than 13,000 players from more than 100 colleges.
“We are looking forward to working alongside the MPL team and assisting them in their efforts to expand. As per Kanush Chaudhary, the managing director at Composite Capital, “The Company will continue to innovate and further advance eSports as well as in India and around the world. We believe that the company is a pioneer in the field of gaming.”
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The Bangalore-based startup also offers fantasy sports that have recently become very popular in many regions of India. Since fantasy sports is just one aspect of the enterprise, the recent coronavirus epidemic that caused the cancellation of most games in the real world hasn’t stopped the business’s growth during the last few quarters.
Because MPL’s application isn’t yet available on Google Play, its growth is impressive. The world’s second-largest internet market, Google, has a huge market share. Google, whose Android operating system runs the majority of smartphones, doesn’t allow fantasy sports apps to be found on their Play Store.