Last year MPL raised USD 5 million seed round from Sequoia and BeeNext.
Mobile Premier League (MPL), one of the fastest growing mobile eSports platform in India Wednesday, announced a Series A investment of USD 35.5 million, led by Sequoia India, Times Internet, and GoVentures with participation from other investors including RTP Global, BeeNext, Base Growth, and Venture Highway.
The funds will enable the newly launched mobile gaming platform to invest in product and user growth in India.
“Our goal is to build India's largest mobile eSports platform which is accessible to all. Competitive gaming in India will be mobile first and MPL wants to be the platform of choice for the user,” said Sai Srinivas Kiran G, Co-Founder and CEO of Mobile Premier League.
MPL claims to be one of Playstore's top ranking apps across categories with over 25 million installs making it one of the fastest growing app in India.
Mobile eSports is becoming popular by the day and MPL aims to break barriers of access to make mobile gaming a household sport across the country.
“E-gaming has witnessed an exponential growth in India with the rapid penetration of digital infrastructure. In a short timeframe, MPL has shown tremendous growth, capturing a sizeable chunk of this market,” said Samir Sood, Founder, Venture Highway.
Recently, Mobile Premier League (MPL) had brought on board cricketer Virat Kohli as a brand ambassador for a deal worth Rs 12 crore for a period of one year.
The appetite for gaming in India is increasing and the proof of this is the growing number of game developing companies in the country, which has risen from 25 in 2010 to 250 in 2018, according to a recent Forbes report.
The report also pegs India’s gaming industry at USD 890 million and expects the mobile games market to be worth USD 1 billion by 2020.These numbers are encouraging global companies to invest in India’s gaming platforms due to which more money is moving through the industry.
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