MPL has raised another round of $35.5 million in Series A funding round, again led by Sequoia, Times Internet and GoVentures. Other investors include RTP Global, BEENEXT, Base Growth, and Venture Highway.
One of the recent entrants in the e-sports segment, Mobile Premier League (MPL) recently raised $5 million in series A funding from Sequoia Capital India, who led the round. Sequoia was joined by some angel investors too, in the seed round.
Virat Kohli has signed up as a brand ambassador for MPL since last month. Kohli had then made a statement saying,” I am extremely happy to associate with an exciting young brand like MPL, that is making mobile eSports so accessible to Indians across the country.”
On the investment, the CEO and co-founder of MPL who said, “We want to focus on distribution. Our goal is to provide multiple games and formats so that whenever users come to our platform, they can get all forms of competitive gaming on one platform.” He further said that the newly acquired funds will be used for product improvisation and for expanding the customer base.
MPL was started by Kiran and Malhotra earlier worked together to launch a Bengaluru-based media streaming start-up called Creo, which was acquired by Hike in August 2017. Their joint venture MPL has now reached 25 million users.
MPL app is available for download on Play Store and Apple’s App Store. The company has also launched a pro version of the app, which can only be downloaded from the MPL website. Users who wish to play in the pro tournament need to pay an entry fee using only payments such as UPI, wallets, credit cards or net-banking.