MPL is the new startup unicorn of India as it raises $2.3 billion valuations in Series E financing

Legatum Capital in collaboration with the existing investors comprising Sequoia, SIG, RTP Global, Go-Ventures, Moore Strategic Ventures, Play Ventures, Base Partners, Telstra Ventures, and Founders Circle Capital governed this investment wherein the total size wasn’t revealed to the public. 

Moneycontrol reported that the gaming app, Mobile Premier League (MPL) has emerged as India’s startup unicorn by generating a whopping $2.3 billion valuation price in the Series E financing category.

Legatum Capital in collaboration with the existing investors comprising Sequoia, SIG, RTP Global, Go-Ventures, Moore Strategic Ventures, Play Ventures, Base Partners, Telstra Ventures, and Founders Circle Capital governed this investment wherein the total size wasn’t revealed to the public.

Sai Shrinivas, Co-founder and CEO at MPL said: “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.”

Established in 2018 by Sai Srinivas and Shubh Malhotra in Bangalore, the startup was valued at $945 million after being financed by Composite Capital and Moore Strategic Ventures. MPL claimed that it consists of more than 70 games across different genres. It permits its users to play tournaments for free or by paying a small amount for wider exposure.

The gaming platform in April, acquired GamingMonk, to augment its profile by introducing ‘Esports Arena’ that organises Esports tournaments on a fortnight basis wherein it involves some basic games like Chess, WCC, and Pool etc.

 

 

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