The latest news reports about Mobile Premier League state that the Virat Kohli-backed e-gaming start-up has secured $95 million in its latest round of funding. The news reports further add that Mobile Premier League (MPL) raised $95 million in Series D round of funding. This fund raise was led by Composite Capital and Moore Strategic Ventures. Furthermore, Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders Circle and Play Ventures also participated in the funding round.
The total fundraising reportedly stood at $225.5 million. As per the company’s statement, the investment also led to over 2X jump in its valuation of around $400 million as compared to September 2020’s $90 million. MPL’s latest valuation stood at a rock solid figure of $945 million. All this action made it possible for MPL to take one step closer to achieving an unicorn status. Currently, only Dream 11 is termed as the gaming unicorn of India.
The gaming start-up, MPL which is currently flying high said that the platform has more than 60 million users in India and more than 3.5 million users in Indonesia. The brand which is looking forward to establishing a solid ground in India also offers over 50 games across different genres. The brand has worked with 28 game developers to breathe life into its games. The latest round of investment will be directed towards expanding its esports vertical and organizing virtual tournaments.
A lot of work is happening on the online gaming front in addition to the firm’s global expansion plans for the year. MPL had preorganized a virtual sports fiesta called College Premier League in 2020, with INR 1 crore in prizes and scholarships to be won by participants.