MPL Inches Closer to Unicorn Status; Raises $94 Million in Series D Funding for Valuation at $945 Million
One of India’s premier online gaming platform, Mobile Premier League (MPL) has raised $94 million in series D funding round led by Composite Capital and Moore Strategic Ventures. The round also saw participation from Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders circle and Play Ventures.
Since its inception in 2018, MPL has raised a total of $225.5 million. The company also announced that with the current round of funding, MPL is now valued at $945 million.
Headquartered in Bangalore, MPL runs over 50 games across categories on its Android and iOS applications. It has amassed over 60 million users in India and over 3.5 million users in Indonesia.
The online gaming industry has witnessed a massive upswing in terms of growth especially owing to the pandemic-induced lockdown in 2020. MPL has been at the forefront of democratizing eSports in India and Indonesia. The platform had launched College Premier League (CPL), India’s biggest mobile esports festival that saw participation from over 13,000 gamers and more than 100 colleges across the country.
According to a statement, MPL will utilize the fresh influx of funds to expand its eSports portfolio and bolster its efforts to organize more such eSports tournaments nationally and internationally at scale. The funds will also be used to accelerate MPL’s international expansion this year.
Sai Srinivas, Co-Founder & CEO, MPL, said, “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”.
Kanush Chaudhary, Managing Director, Composite Capital, said, “We are excited to partner with the MPL team and support their continued growth. As an industry leader in the gaming market, we believe the company will continue to innovate and drive the evolution of eSports, both in India and internationally”.
Speaking about the investment, Eduardo Latache, Partner, Base Partners, said, “As we double down on our investment in MPL, we are eager to see it increasing its international footprint and becoming a global leader in the mobile gaming and eSports industries”.
Since its inception in 2018, MPL has raised a total of $225.5 million. The company also announced that with the current round of funding, MPL is now valued at $945 million.
Headquartered in Bangalore, MPL runs over 50 games across categories on its Android and iOS applications. It has amassed over 60 million users in India and over 3.5 million users in Indonesia.
The online gaming industry has witnessed a massive upswing in terms of growth especially owing to the pandemic-induced lockdown in 2020. MPL has been at the forefront of democratizing eSports in India and Indonesia. The platform had launched College Premier League (CPL), India’s biggest mobile esports festival that saw participation from over 13,000 gamers and more than 100 colleges across the country.
According to a statement, MPL will utilize the fresh influx of funds to expand its eSports portfolio and bolster its efforts to organize more such eSports tournaments nationally and internationally at scale. The funds will also be used to accelerate MPL’s international expansion this year.
Sai Srinivas, Co-Founder & CEO, MPL, said, “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”.
Kanush Chaudhary, Managing Director, Composite Capital, said, “We are excited to partner with the MPL team and support their continued growth. As an industry leader in the gaming market, we believe the company will continue to innovate and drive the evolution of eSports, both in India and internationally”.
Speaking about the investment, Eduardo Latache, Partner, Base Partners, said, “As we double down on our investment in MPL, we are eager to see it increasing its international footprint and becoming a global leader in the mobile gaming and eSports industries”.
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