The Mobile Premier League (MPL), an Indian mobile gaming and esports platform, has raised $90 million (£70.4 million) in its Series C round.
The round was led by SIG and early-stage tech investor RTP Global, as well as MDI Ventures and Pegasus Tech Ventures. Existing investors Sequoia India, Base Partners, and Go-Ventures also took part.
Sai Srinivas, CEO and Co-founder of Mobile Premier League, commented in a release: “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.
“Being able to bring quality technology, competitive spirit, and enjoyment to people in such an accessible way is what keeps us excited. The online gaming industry is seeing huge and increasing engagement; with this fresh capital injection being proof of MPL’s potential to lead and transform this space.”
In a release, MPL notes that its user base has quadrupled since March, now reaching more than 60 million players. All told, users have recorded more than 2 billion cash transactions to date as they play mobile games and take part in competition.
All told, MPL has now raised $130.5 million (£102 million) in funding. The company has added Indian national cricket team captain Virat Kohli as a brand ambassador, sponsored a pair of Indian Premier League cricket teams (Kolkata Knight Riders and Royal Challengers Bangalore), and is the presenting sponsor of reality show Bigg Boss.
Winston Adi, Head of Investments at MDI Ventures, added: “Gaming has been one of the largest growing entertainment industries in the world, and we believe that mobile games have contributed to the major growth of this industry, especially in Asia. As [part of] our portfolio, we are proud of what innovation MPL has to offer as they delivered competitive gaming to scale, and the result has been mind-blowing. We are excited to provide continuous support with our partners as they strengthen their position both in their home market and in our home market, Indonesia.”
Esports Insider says: It sounds like the Mobile Premier League has really made the most of the pandemic-led increased spotlight on gaming, dramatically boosting its user count, bringing in significant funding, and aligning with high-profile sports and entertainment properties. Will the MPL be able to make the same kind of impact outside of India as it eyes expansion?