Bengaluru based Esports and Mobile Gaming Platform Mobile Premier League (MPL) has raised US$ 90 million in Series C financing round. Till date, MPL has raised US$ 130.5M.
MPL has been experiencing fast-growth, the funds raised will be utilized to expand outside of India.
The Series C funding round was led by SIG, early-stage tech investor RTP Global and MDI Ventures. Other participants include existing investors Sequoia India, Go-Ventures, and Base Partners. Times Internet and actor Salman Khan are also early investors in MPL.
MPL- India’s No.1 Gaming Platform
Mobile Premier League is a pure-play gaming platform that hosts a range of tournaments. It also offers fantasy sports, a segment that has taken off in many parts of India. MPL does not develop games of its own. It hosts other games across various sports on its app. The MPL App has crossed over 60 million users and it hosts around 70 games on its Application.
The app allows players to compete against each other in online games and win real money. Its fantasy sports section includes the ongoing IPL cricket season. Thus, the startup is expecting a huge user turnout because of IPL.
Popular in Pandemic
The COVID pandemic has caused no harm to MPL’s growth. Many gaming startups are seeing significant growth in terms of new users and the time spent by them on their platforms. MPL claims that it has grown four times since March 2020 and has recorded more than 2 billion cash transactions on its app to-date.
MPL was co-founded by Sai Srinivas (CEO) and Shubham Malhotra in 2018. “In a short time, MPL has taken the gaming market by storm, with our various offerings and partnerships, which have helped us stand out in the industry. This latest round of funding will enable us to entertain and connect an even larger audience across India and beyond,” said Sai Srinivas.
MPL is currently present in India and Indonesia, with offices in Bengaluru, Jakarta, and Pune, and with a personnel strength of over 300. Furthermore, it now plans to expand into South Korea and Japan as well.
“Even in an environment as challenging as the current one, we are impressed with the success and accessibility of the platform concept – giving users a unique variety of experiences and social interaction. MPL’s track record speaks for itself, so we’re excited to support the team as they grow and expand,” said Galina Chifina, Managing Partner at RTP Global.
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