Gaming 
Donna Amo
By Donna AmoOn 04 Feb, 2021
By Donna AmoOn 04 Feb, 2021
Mobile Premier League Valuation Doubles To $800 million In Four Months
In a new financing round, Mobile Premier League (MPL) raised over $100 million, which now puts the company’s total value close to $800 million. Investors including Composite Capital, Telstra Ventures, and Moore Strategic Ventures led the new fundraise. There was also participation from a group of their existing benefactors. MPL is a gaming platform that offers more than 70 real money games like fantasy sports, poker, rummy, chess, ludo, carrom etc.
According to a news report by the Economic Times, MPL’s valuation had almost doubled from its previous round in 2020, which valued the company at $450 million. The online gaming startup had investors like SIG Global, MDI Ventures, Pegasus Tech Ventures, and RTP Global at that time. Their early backers also included Go-Ventures, Sequoia India, and Times Internet.
ALSO READ: Mobile Premier League raises $35.5M from Sequoia India
MPL’s total investment raise will now go up to $230 million once the funding round has been made official. No details about the fundraise was given by Sai Srinivas, co-founder and CEO of MPL. But he did state that the valuation was just shy of a billion dollars.
The real money gaming (RMG) industry recorded a huge growth in the last year as people had to stay home during the pandemic lockdown. Startups like Dream11, Mega, and Winzo were among MPL’s biggest competitors. In the previous year, MPL’s growth quadrupled and hit over $1 billion in gross merchandise value (GMV), this was between March and September.
In September, the RMG mobile platform raised $90 million which was directed towards expanding the company into other markets in regions like South Korea, North America, and Japan. The funding also focused on developing and strengthening the social aspects of the platform which includes audio and video content and live streaming.
For all the latest news updates, keep reading GutshotMagazine.com. Follow us on Facebook, Instagram, and Telegram.
Donna Amo is a writer at Gutshot Magazine. She is a graduate from Sophia College of Women, Mumbai with a degree in English Literature. When this October born foodie is not writing content or poetry, she spends her time laughing at memes or watching series. Based out of Mizoram, she is drawn to all things nature and has a soft spot for puppies.
More News
Comments
Top 10 Poker Rooms
-
-
-
PokerSaint
Sign-up and get Rs. 50 FREE Bonus
Offer: "GUT100" Register -
Poker Dangal
Sign up code: GUTSHOT
Offer: INR 500 Free on sign-up; (425 Locked, 75 Instant) Register -
Spartan Poker
Sign-up with "GUTSHOT"
Offer: "GUT300X" to get 300% on your deposit Register -
Nostra Pro
Use Code "KING500"
Offer: 100% Instant Poker Cash Back Register -
BLITZPOKER
Offer: Sign-up and get INR 200 FREE Register -
Calling Station
Instant withdrawal; Use “RELOAD20” on deposits for 20% locked bonus
Offer: "GUTSHT" Register -
Gamezy Poker
Code: GUTSHOT
Offer: Get Rs.1,000 FREE Bonus on Signup Register -
Stick Pool Poker
Only live poker app in India
Offer: Sign-up and get Rs.50 FREE Register
Featured StoriesView All
7 May,2021 SIGN-UP On BLITZPOKER To Get ₹ 200 Bonus
SUBMIT YOUR ARTICLE
Leave a Reply