Indian mobile gaming platform Mobile Premier League (MPL) has successfully raised $90 million from SIG Global and early-stage tech investor RTP Global, along with MDI Ventures and Pegasus Tech Ventures. The Series C round also saw participation from its existing investors Sequoia India, Go-Ventures, and Base Partners.

Valuation Surge

Following this funding, MPL’s valuation could soar to $350 million, as reported by Entrackr. This funding round comes shortly after MPL’s competitor Dream Sports, the parent company of Dream11, secured $225 million from Tiger Global, TPG Tech Adjacencies (TTAD), ChrysCapital, and Footpath Ventures.

Rapid Growth

Despite being a two-year-old startup, MPL has witnessed a remarkable surge in the number of games available on its platform, experiencing a growth of 700% in the last four months during the coronavirus lockdown.

Future Plans

Sai Srinivas, Co-Founder and CEO at Mobile Premier League, expressed excitement about the latest funding round, highlighting its potential to entertain and connect an even larger audience across India and beyond. The company aims to continue delivering quality technology, fostering a competitive spirit, and providing enjoyment to users in a highly accessible manner.

IPL Sponsorship

The timing of MPL’s funding coincides with its strategic efforts to attract more users during the ongoing Indian Premier League (IPL) season. Additionally, MPL has secured sponsorship deals with the Royal Challengers Bangalore and Kolkata Knight Riders teams. Furthermore, Indian cricket captain Virat Kohli serves as the brand ambassador for the startup, enhancing its visibility and appeal to cricket enthusiasts.