Bengaluru: Mobile Premier League or MPL has scooped up $95 million in its Series D round 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.
The Bengaluru-based online gaming startup has announced the new round within five months of raising $90 million in its Series C round from SIG, RTP Global, and MDI Ventures.
This takes total investments in MPL to over $225 million to date. According to MPL, it has reached the post-money valuation of $945 million. The Sai Srinivas-led company has become the second-most valued startup in the segment after Dream11, which had scored $225 million in September 2020 at a valuation of $2.5 billion.
According to the company, it will utilize the latest proceeds to organize more esports tournaments in the country and to accelerate its 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,” Srinivas, co-founder, and CEO of MPL said in a statement.