MPL Raises $90 Million in Latest Funding Round

Mobile Premier League or MPL the Bangalore based e-sports and mobile gaming platform has raised as much as $90 million in a new financing round as it is looking to expand outside India.

This $90 million Series C financing round was led by SIG, MDI Ventures, and early-stage tech investor RTP Global, with participation from already existing investors like Base Partners, Go-Ventures, and Sequioa India.

The latest investment round brings MPL’s total raise to $130.5 million.

Currently, MPL operates as a pure-play platform and hosts a range of tournaments. To date, the app has garnered more than 60 million users and it also hosts around 70 games, and it also serves as a publishing platform for different other gaming firms.

MPL the Indian start-up also offers fantasy sports, which has seen a massive surge of demand in various parts of India in recent years. However, as the fantasy league is just a part of the business the start-up has grown four times since March even after the cancellations of matches due to the pandemic.

Galina Chifina, Managing Partner at RTP Global, in a statement, “Even in an environment as challenging as the current one, we are impressed with the success and accessibility of the platform concept – giving users a unique variety of experiences and social interaction. MPL’s track record speaks for itself, so we’re excited to support the team as they grow and expand,”

However, due to the fantasy league factor, MPL’s app is not available in the Google Play Store as it prohibits online casino and all other types of betting. Due to which Dream 11, another fantasy sports app is not available in the Play Store.