Mobile Premier League (MPL) has Become India’s 2nd Gaming Unicorn After Dream11: The Mobile Premier League (MPL), which bills itself as Asia’s largest esports and skill gaming platform, said on September 15 that it has raised $2.3 billion in a Series E round of funding sponsored by Legatum Capital. The amount raised has not been formally disclosed, although it is rumored to be $150 million.
MPL, based in Bengaluru, has thus become India’s second gaming unicorn, following Dream11. In April 2019, Dream Sports, the parent company of MPL’s primary rival Dream11, became the country’s first gaming unicorn as MPL unicorn.
#Startups | Mobile Premier League (#MPL) said that it has raised its Series E round of financing led by Legatum Capital at a pre-money valuation of $2.3 billion@PeerzadaAbrar reportshttps://t.co/AKhbomA52l
— Business Standard (@bsindia) September 15, 2021
MPL plans to use the new funding to fund its global expansion, invest in its in-house technologies, and continue to grow in the Indian market, according to a news statement.
This investment comes just days before the final games of the 14th season of the Indian Premier League (IPL), in which MPL has made significant investments in advertising and digital media rights.
“This investment acknowledges the potential of the Indian gaming and esports industries, as well as MPL’s ability to expand globally. Because of MPL’s demonstrated success in India and Indonesia, we decided to expand into the United States, one of the world’s largest gaming markets. Our US operations are off to a good start, and we’re on our way to becoming our platform the world’s esports and gaming hub,” said Sai Srinivas, MPL’s co-founder, and CEO.
According to app measurement firm Sensor Tower, India is one of the world’s largest marketplaces for game downloads, with 840 million installs in June. Indian competitors are hoping that their path to expansion in India and beyond will be easier now that neighboring China is cracking down on its gambling enterprises
MPL has recently started operations in the United States of America after two years in Indonesia. MPL claims to have many registered users worldwide and has the support of Indian cricket captain Virat Kohli. Founders believing that the company will keep on expanding after MPL becomes a unicorn.