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.

โ€œAs we grow our presence and expand, this fresh round of funds will help us focus on our core value propositions โ€” a robust platform with the best features for gamers and onboarding the best eSports titles,โ€ said said Sai Srinivas, co-founder, and CEO, MPL.

โ€œThe 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,โ€

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.

โ€œThe funds will also be used to accelerate MPLโ€™s international expansion this year,โ€ it said.

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