The online gaming or the e-sport industry is the sector that has shown exponential growth in this pandemic era. Investors are also not hesitating to invest in online gaming platforms. Mobile Premier League(MPL), an e-sport and mobile gaming platform raised $95 million in the latest funding round on Thursday.
MPL Current Funding Details
In the series D funding round, MPL collected $95 million from Composite Capital, Moore Strategic Venture, and others. Other investors like Base Partners, SIG, RTP Globals, Play Ventures, and others also participated in the current funding round. MPL is one of the top 5 fantasy sports platforms in India.
Before series D funding, MPL organized a unique funding round last week. In that funding round, only existing employees participated as an investor. 10% of total employees showed interest in that event. The company collected a total of $500,000 in the employee-driven funding event.
With the current funding round collection, MPL market capitalization stands strong with a total amount of $945 million. In different funding rounds, MPL raised a total of $225.5 million till now.
When asked about the use of the funding, the MPL spokesperson said that the company will use this amount for international expansion. Other than that, it will also be invested in e-sport portfolio expansion. MPL also plans to organize more online gaming events in the future.
Key Operations and Other Details About MPL
Sai Srinivas and Shubh Malhotra founded MPL in 2018. The company has shown tremendous growth in a short span of time. MPL has offices in Bengaluru, Pune, Jakarta, and Singapore. More than 500 people work in this trending online gaming platform.
60 million Indian gamers use the MPL platform, whereas 3.5 Million users access MPL from Indonesia.
“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,” MPL co-founder and CEO Sai Srinivas said.
He further said that the Indian online gaming industry is flourishing. This is the right time to help Indian Gamers in showing their talent worldwide. This is also the time to bring Made in India game to the global canvas.