MPL also has Go-Ventures, Base Partners, Founders Circle, RTP Global, SIG, Telstra Ventures, Play Ventures, and Sequoia Capital in its cap table.
Online gaming platform Mobile Premier League (MPL) is in talks with new and existing investors to raise $150 Million, which will put it at a valuation going way ahead of the $1 billion mark, turning it into a unicorn.
Fantasy and e-sports are fast catching up in India at an accelerated. As a result, investors are investing their money in large quantities in this vertical with a hefty premium. After Dream11’s 200% jump in valuation in six months, MPL has now joined the race for the coveted club. If the potential round materializes, this would be MPL’s third round of funding round in the past 7 months. It had raised $95 Million in February 2021, taking its valuation up to $945 Million.
MPL also has Go-Ventures, Base Partners, Founders Circle, RTP Global, SIG, Telstra Ventures, Play Ventures, and Sequoia Capital in its cap table. Further, MPL has also announced the acquisition of the e-sports gaming platform “GamingMonk”. MPL works with third-party developers and then publishes their game on the platform where users can participate in skill-based games including chess, cricket, crossword, and puzzles, to win cash prizes. It has 7 million users on its platform presently.
Back-to-back rounds of funding in companies like Dream11 and MPL in the last 6 months show that the investors are positive about the prospects of these companies in the long run.
Source: Business World