Mobile gaming startup Mobile Premier League (MPL) has raised $ 95 million. Indian cricket team captain Virat Kohli has an investment in the company. The funds have been raised in a Series D round of funding led by Composite Capital and Moore Strategic Ventures. Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders Circle and Play Ventures also participated in the round, raising the funds raised by it to $ 225.5 million. The company said on Thursday that MPL’s latest valuation is at $ 945 million, taking it closer to unicorn status. Currently, Dream 11 is the only gaming unicorn in the country.
Over 60 million users in India
MPL said that it has more than 60 million users in India and more than 3.5 million users in Indonesia. The startup offers more than 50 games in different categories and has worked with 28 game developers to publish games on the platform. Recent investment will be channeled into the company’s international expansion along with expanding its e-sports portfolio and holding digital tournaments. The MPL organized the Digital Sports Festival College Premier League in 2020. In this, a reward of Rs 1 crore and scholarship was kept.
Gaming market moving forward in India
Sai Srinivas, co-founder and CEO of MPL, said in a statement that the esports community in India is moving forward and they believe that this is the perfect time to take the Games made in India to the world. With this, it is also the right time to help recognize the talent of Indian gamers. The startup raised $ 500,000 from existing customers last week. This was under his Employment Investment Plan, in which 10 percent of the company’s employees participated.
Indian cricket team captain Virat Kohli invested in MPL in February 2019. According to the report of Indian Express, the company became the official kit sponsor and merchandise partner of BCCI in November 2020. Kohli was made the brand ambassador of MPL in March 2019.