Business

Gaming platform MPL raises $95 mn

eSports and mobile gaming platform Mobile Premier League (MPL) on Thursday said it has raised $95 million in Series D round led by Composite Capital and Moore Strategic Ventures, taking the company a step closer to becoming an unicorn with a valuation of $945 million.

Other investors who participated in this round of funding include 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, it 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,” said said Sai Srinivas, co-founder, and CEO, MPL.

“The e-sports 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,”

The MPL gaming platform has over 60 million users in India and over 3.5 million users in Indonesia.

The company said that the pandemic-induced lockdown in 2020 provided a fillip to an already-booming e-sports industry in India, and that MPL would use this fresh influx of funds to expand its e-sports portfolio and organise more e-sports tournaments nationally and internationally at scale.

“The funds will also be used to accelerate MPL’s international expansion this year,” it said.


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Printable version | Sep 24, 2021 12:55:08 PM | https://www.thehindu.com/business/gaming-platform-mpl-raises-95-mn/article33753294.ece

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