India-based e-sports company Mobile Premier League (MPL) raised $90 million in its latest financing round, as it aims to broaden its reach across multiple international markets, The Economic Times (ET) reported.
The new backing was reportedly led by investment group SIG, and venture capital companies RTP Global; MDI Ventures (a unit of Telkom Indonesia); and Pegasus Tech Ventures, bringing the total raised to $130.5 million.
Existing backers Sequoia India, Go-Ventures and Base Partners also participated in the round which valued the company at $450 million, ET stated.
Sai Srinivas Kiran G, MPL co-founder and CEO, told the newspaper the company’s goal was to use the fresh investment to expand into multiple global markets including South Korea, Japan and North America.
MPL offers more than 70 real-money games: analytics company Appfigures estimated the service was downloaded 1.2 million times from the App Store in India between 21 September 2019 and 12 September 2020.
The offering was made unavailable for download from Google Play in May 2019, as it was deemed to break the marketplace’s policies prohibiting online betting services.
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