indian mobile league 95m series 945m

Mobile Premier League, a mobile gaming and eSports platform, has raised $95 million in Series D funding. 

Composite Capital and Moore Strategic Ventures led the latest round, which brings the total funding to $225.5 million and the valuation to $945 million, with participation from Base Partners, Telstra Ventures, SIG, Go-Ventures, Founders Circle, RTP Global, and Play Ventures.

The funds will be used to expand the company’s eSports portfolio, support efforts to organize more national and international eSports tournaments, and accelerate international expansion.

MPL is an Asian eSports and mobile gaming platform founded in 2018 by Sai Srinivas and Shubh Malhotra, with over 60 million users in India and 3.5 million in Indonesia. With over 50 games across categories currently available on Android and iOS apps, the company has collaborated with 28 game developers to publish their games on the platform and offer them a new revenue stream.          

With offices in Bengaluru, Pune, Jakarta, and Singapore, the gaming platform currently employs over 500 people.

This year, the business says it would use the additional money to drive its worldwide expansion and host more domestic esports competitions. The startup recently organized the College Premier League, which attracted over 13,000 gamers from over 100 colleges. “We are eager to work with the MPL team and help them as they continue to grow. According to Kanush Chaudhary, managing director of Composite Capital, “The Company will continue to develop and drive the evolution of eSports, both in India and abroad. Further, we feel the company is a leader in the gaming industry.”

The Bangalore-based startup also provides fantasy sports, a popular pastime in many parts of India in recent years. Because fantasy sports is only one part of the business, the coronavirus outbreak that forced the cancellation of most real-world matches has not slowed the startup’s growth in recent quarters.

Given that MPL’s app isn’t on Google Play, its growth is remarkable. In the world’s second-largest internet market, Google, whose Android operating system powers 99 percent of all smartphones, does not allow fantasy sports apps on its Play Store.