{"id":4316,"date":"2021-09-19T01:47:48","date_gmt":"2021-09-19T08:47:48","guid":{"rendered":"https:\/\/www.gamesround.com\/blog\/?p=4316"},"modified":"2021-10-24T04:03:32","modified_gmt":"2021-10-24T11:03:32","slug":"indian-esports-outfit-mobile-premier-league-raises-150-million","status":"publish","type":"post","link":"https:\/\/www.gamesround.com\/blog\/indian-esports-outfit-mobile-premier-league-raises-150-million","title":{"rendered":"Indian Esports Outfit Mobile Premier League Raises $150 Million"},"content":{"rendered":"\n

Mobile esports company Mobile Premier League (MPL) announced that it netted $150 million in a Series E funding round.  This latest fundraising round puts the company’s valuation at $2.3 billion.<\/p>\n\n\n\n

The development is a major milestone for gaming and esports companies in India. The latest funding feat has promoted Mobile Premier League a unicorn\u2014the title reserved for startups worth over $1 billion. This makes them the second Indian startup to achieve such success in recent memory,<\/p>\n\n\n\n

“This investment is a recognition of the potential of the Indian gaming and esports industry and an endorsement of the capability of MPL to expand globally, “said MPL CEO and co-founder Sai Srinivas. “MPL’s proven success in India and Indonesia encouraged us to launch in the US, one of the world’s largest gaming markets. Our US operations are off to a promising start, and we’re thus fulfilling our resolve to make our platform the esports and gaming hub of the world.”<\/p><\/blockquote>\n\n\n\n

Based in Bengaluru, India, Mobile Premier League is a mobile gaming platform where players compete in tournaments and matches for prizes. It includes both esports titles as well as casual games like chess and Sudoku. <\/p>\n\n\n\n

Mark Stoleson, Legatum Capital CEO, commented: “At Legatum, we make long-term investments and work with companies that create long-term value. MPL, with its incredible growth trajectory, is one of those companies, and we are delighted to support Shubh and Sai and their incredible team. With a top-class gaming experience for users, unmatched distribution for developers, and a commitment to building a company with the best global talent and a winning culture, I look forward to working with MPL as it goes from strength to strength to become the world’s leading esports and skill gaming platform.”<\/p><\/blockquote>\n\n\n\n

In July, MPL launched operations in the US and recently completed two years of successful operations in Indonesia. It currently has more than 85 million users worldwide.<\/p>\n\n\n\n

The funding round was spearheaded by investment firm Legatum Capital. Existing investors including Sequoia, Go-Ventures, SIG, Moore Strategic Ventures, Base Partners, Play Ventures<\/a>, and Founders Circle Capital also participated in the financing round. The company secured $90 million last year.<\/p>\n\n\n\n

The company said it would use the money to expand its footprint to other countries, invest in its home-grown technology, and drive growth in the Indian market.<\/p>\n\n\n\n

In India, mobile gaming is one of the fastest-growing sectors, with over 365 million gamers. A recent report from CSLA cited by Business World tells us that this number will continue to rise.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mobile esports company Mobile Premier League (MPL) announced that it netted $150 million in a Series E funding round.  This latest fundraising round puts the company’s valuation at $2.3 billion. The development is a major milestone for gaming and esports companies in India. The latest funding feat has promoted Mobile Premier League a unicorn\u2014the title […]<\/p>\n","protected":false},"author":14,"featured_media":4317,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[904,907,903,908,909,905,273,902,900,901,906],"class_list":["post-4316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-base-partners","tag-founders-circle-capital","tag-go-ventures","tag-legatum-capital","tag-mobile-premier-league","tag-moore-strategic-ventures","tag-play-ventures","tag-rtp-global","tag-sequoia","tag-sig","tag-telstra-ventures"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t