Ritesh Agarwal joins MPL’s Series B round
Mobile Premier League or MPL has raised $500K from Oyo’s founder Ritesh Agarwal’s RA MPL Holding Pte. Agarwal seems to have floated the entity last month for making an investment in the fantasy sports platform.
The infusion from RA MPL Holding has come on the heels of MPL’s $90 million Series B round.
MPL has allotted 44 preference shares at an issue price of $11,333.3 per share to raise $500K from RA MPL Holding Pte, which shows filings made by the company in Singapore. Agarwal had registered this entity on October 2.
Founded in September 2018, the startup works with third-party developers and then publishes their game on the platform where users can participate in skill-based games including cricket, puzzles, chess, and crossword to win cash prizes. According to the company, it has grown to over 60 plus games and 6 crore users.
According to MPL, the number of players on the platform increased 7X during the Indian Premier League or IPL. It also claimed a 100% surge in downloads. Apart from India, it also has a presence in Indonesia.
