Mobile Premier League (MPL), a mobile e-Sports platform based in India, has raised $95 million in a new financing round, pegging its value at $945 million, the company has announced.
The company also said that the total funds raised by it stands at $225.5 million since its inception in 2018.
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.
MPL also stated that it will use this fresh influx of funds to expand its eSports portfolio and bolster its efforts to organize more such eSports tournaments nationally and internationally at scale. The funds will also be used to accelerate MPL’s international expansion this year.
“As we grow our presence and expand, this fresh round of funds will help us focus on our core value propositions – a robust platform with the best features for gamers and onboarding the best eSports titles. The esports community in India is thriving, and we believe this is the perfect time to take Indian-made games to the world as well as help Indian gamers get recognized for their talent,” said Sai Srinivas, Co-Founder, and CEO, MPL said in a statement.
“We are excited to partner with the MPL team and support their continued growth. As an industry leader in the gaming market, we believe the company will continue to innovate and drive the evolution of eSports, both in India and internationally,” said Kanush Chaudhary, Managing Director, Composite Capital.
Last week, MPL had announced raising $500,000 from existing employees under its Employee Investment Plan, which saw participation from 10 percent of the company’s employees.