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Miguel Cordon · · 1 min readIndia’s Mobile Premier League banks $90m in series C round
Additional investors in the round include existing backers Sequoia India, Go-Ventures, and Base Partners.
Founded in 2018, the skill-based esports platform allows users to play mobile games in a variety of tournaments and win actual money. Once results are announced, winners can cash out their winnings immediately through Paytm, UPI, or bank transfer.
To date, MPL has raised a total of US$130.5 million from investors such as Times Internet and GoVentures.
According to the report, growing smartphone adoption and easier access to 4G internet have driven recent growth in India’s online gaming scene. With this growth comes keener interest from outside investors.
MPL’s new round marks the second largest investment into an Indian gaming startup in 2020, following Dream Sports’ US$225 million raise just last week from Tiger Global Management, TPG Tech Adjacencies, ChrysCapital, and Footpath Ventures, among others.
Editing by September Grace Mahino
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