India-based mobile eSports platform Mobile Premier League (MPL) has raised $90 million in a Series C funding round as it’s experiencing fast growth and planning to expand its services outside of India.
The investment brings the two year old esports and mobile gaming platform’s to-date raise to $130.5 million, according to TechCrunch. A source familiar with the matter said that MPL was valued between $375 million – $400 million before the investment.
The startup has grown four times since March this year, reached 60 million users worldwide (outside of Play Store) and recorded over 2 billion cash transactions on the app so far.
”In a short time, MPL has taken the gaming market by storm, with our various offerings and partnerships, which have helped us stand out in the industry. This latest round of funding will enable us to entertain and connect an even larger audience across India and beyond.” said Sai Srinivas, MPL’s Co-Founder and CEO.
”Being able to bring quality technology, competitive spirit and enjoyment to people in such an accessible way is what keeps us excited. The online gaming industry is seeing huge and increasing engagement; with this fresh capital injection being proof of MPL’s potential to lead and transform this space.”
Abhiskek Madhavan, SVP of Marketing at MPL, shared a tweet and said: “We’re competing with battle-hardened, decade old companies with much, much deeper pockets but it’s incredible what the young team has achieved over the past couple of years.’’
Sometimes gets lost in the narrative, when we’re competing with battle-hardened, decade old companies with much, much deeper pockets but it’s incredible what the young team has achieved over the past couple of years.— Abhishek Madhavan (@AbhishekMadhavn) September 21, 2020