Mobile Premier League has raised $95 million in a new financing round, pegging its value at $945 million, the company said in a statement on Friday. The total funds raised by the company stands at $225.5 million since its inception in 2018, it said.
The Series D round was led by Composite Capital and Moore Strategic Ventures, with participation from Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders Circle and Play Ventures. In September, the company raised $90 million in Series C funding round led by SIG and RTP Global, along with MDI Ventures and Pegasus Tech Ventures.
The company will use the fresh funds to expand its e-sports portfolio, organise tournaments in India and internationally at scale, and accelerate international expansion in 2021, it said. MPL has 60 million users in India and over 3.5 million in Indonesia. The company offers 70 games, hosts multiple tournaments, and also offers fantasy sports. It has admittedly had a good time during the nationwide lockdown necessitated by the COVID-19 pandemic. “Over the past four months, the number of games played on MPL’s most popular titles has increased by more than 700%,” the company said in September.
MPL is not available on Google’s Android Play Store since it offers real money gaming, which Google does not permit under its policies.
In November, the Board of Cricket Control in India (BCCI), the apex cricket administration body in the country, signed MPL Sports as the Indian team’s official kit sponsor and merchandise partner. MPL Sports is an athleisure and sports merchandise brand owned by MPL. According to the contract, India’s senior men’s and women’s, as well as the Under-19 teams, will wear MPL Sports branded jerseys for three years. Kohli is also MPL’s brand ambassador; he was first named brand ambassador in March 2019. His contract was renewed in January 2020 for another year.
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***Update (12:00 PM, February 5): Corrected an error in the headline concerning MPL’s valuation. Originally published at 11:51 AM, February 5.