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Indian mobile esports outfit MPL raises $150 million on a $2.3 billion valuation

Reached over 85 million users worldwide
Indian mobile esports outfit MPL raises $150 million on a $2.3 billion valuation
Date Type Companies Involved Size
Sep 16, 2021 investment Mobile Premier League $150m

Indian esports and mobile game platform Mobile Premier League (MPL) has raised $150 million in a Series D funding round.

As reported by VentureBeat, the funding round valued the Bangalore-based company at $2.3 billion.

The funding round was led by Legatum Capital and included participation from Accrete Capital and Gaingels and existing investors such as Moore Strategic Ventures and RTP Global.

Furthermore, Legatum CEO Mark Stoleson will join the board at MPL.

Earlier this year, the company raised $90 million in a Series C funding round which valued the company at $945 million.

In addition to a Series A funding round in 2019 which raised $35.5 million, the company’s total capital raised to date is $275.5 million.

Since its founding three years ago by Sai Srinivas and Shubh Malhotra, MPL has reached a global registered user base of over 85 million. The platform allows users to compete in tournaments or one-versus-one against other users to win real money.

Unicorn valuation

Legatum CEO and new MPL board member Stoleson commented on the investment:

"At Legatum we make long-term investments and work with companies that create long term value. MPL, with its incredible growth trajectory, is one of those companies and we are delighted to support Shubh and Sai, and their incredible team.

"With a top-class gaming experience for users, unmatched distribution for developers and a commitment to building a company with the best global talent and a winning culture, I look forward to working with MPL as it goes from strength to strength to become the world’s leading esports and skill gaming platform."

MPL is available on the App Store and includes over 80 games, including Solitaire Cube, Fruit Chop, Fruit Dart, Speed Chess, World Cricket Championship, Sudoku, and 8 Ball Pool.