- Mobile Premier League holds 3rd round of Fundraiser led by SIG Global reaching a total of $110 Million.
- MDI Ventures, GV Games and CV Ventures invested in MPL along with SIG Global India Fund.
- MPL, the leading e-game platform will see increasing profits as the IPL continues.
- The competitor of MPL – Dream 11 has already reached a worth of $225 Million.
Appedus NewsDesk: Mobile Premier League (MPL) has raised $75 Million led by the Strategic Investment Group – SIG Global India Fund. The new funds by SIG Global India Fund with the other funds add up to more than $110 Million from across three institutional rounds.
From reliable sources and analyzing the regulatory filings of the fundraiser, it is known that MPL has raised more than $34 Million from SIG Global India Fund. On the other side, M League, the parent company of MPL has received funding with $11.5 Million from Sequoia Capital and $12.5 Million from RTP Global.
Based on sources, it is known lately that Sequoia Capital had funded MPL with an approximate value of $35.5 Million in a fundraiser in 2019 along with Go Ventures and Times Internet.
There were other investors such as MDI Ventures, GV Games, and CE Venture that invested $5 Million, $9 Million, and $2 Million respectively. SIG Global was anticipated to lead the global fundraiser for the Mobile Premier League.
The second-biggest investor in the company is Sequoia which owns almost 31.5% stakes in the company while the largest stakeholders remain Shubham Malhotra and Sai Shrinivas Kiran who are the co-founders of MPL. They both own about 17% each that makes their share about 34% in the company.
About the Mobile Premier League (MPL)
Mobile Premier League is considered to be a super interactive platform for their users where multiple third-party app developers partner with MPL and publish their games. There are many games on Mobile Premier League across various categories. These games based on skills such as crossword puzzles, regular puzzles, cricket, chess, and many more games that allow you to win cash prizes. The company proudly announced in a statement that they have over 60 games available and they have more than 600 million users- which is a massive number of users.
The biggest contender of the Mobile Premier League currently is Dream Sports’ Dream 11 platform. The platforms have a fund of $225 million raised during a fundraiser by Tiger Global management. Currently, Dream 11 is also sponsoring the Indian Premier League (IPL) which is a very huge deal for Mobile Premier League.
Dream11, Mobile Premier League (MPL), and other sports platforms are expected to receive a major push in their sales as the IPL proceeds. These sales are already steadily rising with IPL’s second match already in play.
Online gaming has been a popular, yet constant source of entertainment worldwide. They attract the investors with strategy and more so, venture capitalists. The scope in the industry has been rising and is an attraction for investors to invest in.
As we know, the pandemic has forced everyone to stay at home and has boosted the gaming platforms that allow you to win real cash in real-time as it creates engagement with anticipation along with real benefits.