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Home Business Business News MPL Bags 90 Million USD in Series C Funding Round

MPL Bags 90 Million USD in Series C Funding Round

Mobile Premier League (MPL) has secured 90 million USD in the latest fundraising. The new investment round came amid the two-year-old esports, and the mobile gaming app observes a significant growth in its user base. The Bangaluru-based platform is now looking for expansion outside of the Indian market.

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Mobile Premier League (MPL) (1) has secured 90 million USD in the latest fundraising led by SIG, RTP Global, and MDI Ventures. Other existing investors, Sequoia India, Go-Ventures, and Base Partners for its Series C funding round. The early investor of MLP also includes TimesInternet. With the fresh tranche, the total investments on MPL have now risen to 130.5 million USD. The startup is now valued at approximately 375 million USD to 400 million USD. 

The esports platform operates on pure-play gaming and hosts a range of tournaments. The app now has over 60 million users with about 70 games while also serving as a publishing space for other gaming firms. MPL also offers fantasy sports that have recently become popular in several parts of India.

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The COVID-19 outbreak and resultant lockdown have shut most matches in the real-world. However, it has not deterred the growth of the Bengaluru-based startup. As per the eSports platform’s claim, in recent months, since March 2020, it has observed 4x more increase. It has also recorded over 2 billion cash transactions on the app to date. 

 

MPL looking For More Expansion and Growth

Even during the challenging time, the RTP Global team is impressed with the app’s success and accessibility. It is giving unique experiences and social interactions to its users. The track record of MPL is speaking for itself. The team is excited to support the team as they grow and expand, stated Managing Partners at RTP Global, Galina Chifina, in a statement. 

Since MPL is related to fantasy sports, it is not available on the Google Play Store. It prohibits online casinos and other betting apps. According to its guidelines, Google also pulled down Paytm, an Indian financial service platform. However, the app came back after 8 hours. 

There have been no comments regarding Paytm and Google’s latest episode from Sai Srinivas, Co-founder, and CEO of MPL. Notably, the startup is planning to expand outside of the Indian markets in the upcoming months. There are suggestions that the neighboring countries of India may be part of its expansion plan. 

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Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

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