Mobile eSports platform Mobile Premier League (MPL) has raised Series A investment of $35.5 million led by Sequoia India, Times Internet and GoVentures. RTP Global, BeeNext, Base Growth and Venture Highway also participated in the funding.
The funds will enable the recently-launched mobile gaming platform to invest in products and user growth in India. MPL had raised a $5-million seed round from Sequoia and BeeNext last year.
“Our goal is to build India’s largest Mobile eSports Platform accessible to all. There are 220 million users who play games daily on their mobile phones and this number is expected to exceed 600 million in three years. The availability of cheap data and cheap devices combined with huge comfort levels in making online payments will fuel growth for mobile eSports and like with everything else, competitive gaming in India will be mobile first. MPL wants to be the platform of choice for the user,” Sai Srinivas Kiran G, co-founder and CEO of MPL, told BusinessLine.
Since its launch in September 2018, the platform has garnered over 25 million users and offers a single destination where users can compete in multiple skill-based mobile gaming tournaments. The platform provides users access to all formats and types of competitive games and aims to break barriers of access to make mobile gaming a household sport across the country.
“Sequoia India is very happy to back Sai and Shubh (another co-founder) a second time, and believe solidly in their vision of creating the largest eSports platform for India and other emerging markets,” said Shailendra Singh, Managing Director, Sequoia Capital (India) Singapore.