Bangalore-based esports and mobile games platform Mobile Premier League (MPL) has Raised $90 million in a Series C funding round.
As reported by TechCrunch, the investment was led by RTP Global – an early-stage investor – and MDI Ventures. Further participation came in the form of Sequoia India, Go-Ventures and Base Partners, all of which were current investors. Overall, the company has raised $130.5 million, $35.5 million of which was generated via Series A funding back in April 2019.
"Even in an environment as challenging as the current one, we are impressed with the success and accessibility of the platform concept – giving users a unique variety of experiences and social interaction. MPL's track record speaks for itself, so we're excited to support the team as they grow and expand," said RTP Global managing director Galina Chifina.
So far, the mobile app has accumulated 60 million users and is home to a range of tournaments with around 70 games available. Moreover, with its newfound cash, the Indian company plans to expand internationally.
Competitive gaming is on the rise and has grown in popularity over the years. So much so, that Mobile Premier League's chief exec has some thoughts on the future of esports.
"I believe that esports will be inducted by the Olympics way before than cricket does. And the market cap of esports will most probably will exceed those of all physical sports combined in the next 10 years," said MPL CEO and co-founder Sai Srinivas.