Mobile Premier League (MPL), which claims to be Asia’s largest esports and skill gaming platform, on Wednesday, September 15 announced that it raised its Series E round of financing led by Legatum Capital at a pre-money valuation of $2.3 billion. The company did not officially disclose the sum raised though it is reportedly $150 million. Bengaluru-based MPL has thus become the second gaming unicorn in India after Dream11. Dream Sports, the parent of MPL’s main rival Dream11, in April 2019 emerged as the country’s first gaming unicorn.
Besides Legatum Capital, existing investors including Sequoia, SIG, RTP Global, Go-Ventures, Moore Strategic Ventures, Play Ventures, Base Partners, Telstra Ventures, and Founders Circle Capital also participated in the round. The company said it will use the fresh infusion of capital to finance its global expansion, invest in its home-grown technology, and drive continued growth in the Indian market.
MPL recently began operations in the United States of America and completed two years of operations in Indonesia. MPL said it currently has over 85 million registered users globally and is endorsed by Indian cricket captain Virat Kohli.
“This investment is a recognition of the potential of the Indian gaming and esports industry and an endorsement of the capability of MPL to expand globally. MPL’s proven success in India and Indonesia encouraged us to launch in the US, one of the world’s largest gaming markets. Our US operations are off to a promising start and we’re thus fulfilling our resolve to make our platform the esports and gaming hub of the world,” said Sai Srinivas, Co-founder and CEO, MPL.
Earlier this year, MPL acquired esports firm Gaming Monk to develop a full suite of esports and live streaming capabilities. In early September, the platform announced a partnership with the Play Magnus Group, founded by chess superstar Magnus Carlsen. With this partnership, MPL will host the official Indian circuit for players to qualify for the Meltwater Champion Chess Tour.