MPL valued at $945 million put up newest fundraise

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MPL valued at $945 million put up newest fundraise. Mobile Premier League, Asia’s largest eSports and mobile gaming platform is now valued at $945 million after raising $95 million in a Series D round.

The MPL gaming platform has over 60 million users in India and over
3.5 million users in Indonesia. With over 50 games across categories
on its Android and iOS applications currently, MPL has worked with 28
game developers to publish their games on the platform and provide
them with a new revenue stream.

The latest round was led by Composite Capital and Moore Strategic
Ventures, with participation from Base Partners, RTP Global, SIG,
Go-Ventures, Telstra Ventures, Founders circle and Play Ventures. The
total capital raised by MPL since its inception in 2018 now stands at
$225.5 million.

The pandemic-induced lockdown in 2020 provided a fillip to an
already-booming eSports industry in India and the world. MPL is at the
forefront of democratizing eSports in India and Indonesia, with
initiatives such as the College Premier League (CPL), which was
India’s biggest mobile esports festival. CPL saw participation from
over 13,000 gamers and more than 100 colleges in India in
November-December 2020, with Rs 1 crore in prizes and scholarships.

MPL will use this fresh influx of funds to expand its eSports
portfolio and bolster its efforts to organize more such eSports
tournaments nationally and internationally at scale. The funds will
also be used to accelerate MPL’s international expansion this year.

“As we grow our presence and expand, this fresh round of funds will
help us focus on our core value propositions – a robust platform with
the best features for gamers and onboarding the best eSports titles.
The esports community in India is thriving, and we believe this is the
perfect time to take Indian-made games to the world as well as help
Indian gamers get recognized for their talent,” said Sai Srinivas,
Co-Founder, and CEO, MPL.

“We are excited to partner with the MPL team and support their
continued growth. As an industry leader in the gaming market, we
believe the company will continue to innovate and drive the evolution
of eSports, both in India and internationally,” said Kanush Chaudhary,
Managing Director, Composite Capital.

”As we double down on our investment in MPL, we are eager to see it
increasing its international footprint and becoming a global leader in
the mobile gaming and eSports industries.” said Eduardo Latache,
Partner, Base Partners.

“We are thrilled to have Composite Capital and Moore Strategic
Ventures as new partners. Throughout the Series D process, we were
impressed with their deep understanding of the mobile gaming and
eSports ecosystem. We look forward to working with them as we continue
to build a global gaming business out of India,” said Joe
Wadakethalakal, SVP, Corporate Development and Investor Relations,
MPL.

Last week, MPL also announced raising $500,000 from existing employees
under its Employee Investment Plan, which saw participation from 10
percent of the company’s employees.

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