Companies

MPL raises $95 million in Series D round

Our Bureau Bengaluru | Updated on February 04, 2021

Sai Srinivas, co-founder, and CEO, MPL

Valued at $945 million post fund raise

Mobile Premier League, Asia’s largest eSports and mobile gaming platform, is now valued at $945 million after raising $95 million in a Series D round.

The round was led by Composite Capital and Moore Strategic Ventures, with participation from Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders Circle and Play Ventures. The total capital raised by MPL since its inception in 2018 now stands at $225.5 million.

Passing the stakes

The MPL gaming platform has over 60 million users in India and over 3.5 million users in Indonesia. With over 50 games across categories on its Android and iOS applications currently, MPL has worked with 28 game developers to publish their games on the platform and provide them with a new revenue stream.

Expanding eSports portfolio

The pandemic-induced lockdown in 2020 provided a fillip to an already-booming eSports industry in India and the world. MPL is at the forefront of democratising eSports in India and Indonesia, with initiatives such as the College Premier League (CPL), which was India’s biggest mobile esports festival. CPL saw participation from over 13,000 gamers and more than 100 colleges in India in November-December 2020, with ₹1 crore in prizes and scholarships.

Online gaming to touch $2.8 billion mark by 2022: Deloitte India

MPL will use this fresh influx of funds to expand its eSports portfolio and bolster its efforts to organise more such eSports tournaments nationally and internationally at scale. The funds will also be used to accelerate MPL’s international expansion this year.

“As we grow our presence and expand, this fresh round of funds will help us focus on our core value propositions — a robust platform with the best features for gamers and onboarding the best eSports titles. The eSports community in India is thriving, and we believe this is the perfect time to take Indian-made games to the world as well as help Indian gamers get recognised for their talent,” said Sai Srinivas, co-founder, and CEO, MPL.

Last week, MPL also announced raising $500,000 from existing employees under its Employee Investment Plan, which saw participation from 10 per cent of the company’s employees.

Published on February 04, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor