Mobile Premier League Raises $90M in Series C funding
Indian esports and mobile gaming platform Mobile Premier League (MPL) raised $90M USD in Series C funding, led by SIG and early-stage tech investor RTP Global, along with MDI Ventures and Pegasus Tech Ventures. Existing investors Sequoia India, Go-Ventures, and Base Partners also participated in this round. The investment brings MPL’s total funding to $130.5M after previously raising $40.5M.
Founded in 2018 by Sai Srinivas and Shubh Malhotra, MPL is currently present in India and Indonesia, with offices in Bengaluru, Jakarta, and Pune, with more than 300 employees. MPL has been in advanced discussions with investors to raise capital from as early as January of this year, before the pandemic hit. Between March and now, MPL has says that it saw a four-times growth and claims to be the largest gaming platform in India. The platform also has more than 60M users and has recorded more than 2B cash transactions on the app to date.
MPL says that this capital will be used to further accelerate its position in the gaming market, expand its product offering, and grow its team. The funding will also be used towards product development, with a focus on social functions such as live streaming and audio and video content features.
Since its inception MPL has added more than 70 games to its platform, working with more than 28 game developers and studios. Over the past four months, MPL reported a 700%+ increase in the number of games played on the platform.
The platform also has Indian cricket captain Virat Kohli as its brand ambassador and sponsors two Indian Premier League (IPL) teams – Kolkata Knight Riders and Royal Challengers Bangalore. It also secured the presenting sponsorship of reality TV show Bigg Boss (Indian adaption of Big Brother), anchored by Bollywood actor Salman Khan.
Shounak Sengupta is a staff writer for AFK Gaming.
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