• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, May 17, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Virat Kohli-backed MPL bags $95 million funding in Series D round

by Chhavideep Singh
February 5, 2021
in Business, Startups
Reading Time: 2 mins read
0
MPL
TwitterWhatsappLinkedin
MPL
Source: PR Distribution

In the era of online gaming, Indian cricket team captain, Virat Kohli backed esports gaming platform- Mobile Premier League has recently announced to have raised USD 95 million in its latest Series D funding round.

You might also like

Turkey’s Celebi Takes Legal Aim at India Over Security Clearance Cancellation Amid Pakistan Tensions

TikTok Faces EU Charges Over Breach of Content Transparency Laws

Singtel Sells 1.2% Stake in Bharti Airtel for $1.54 Billion, Reduces Holding to 28.3%

According to several reports, the funding round was led by Hong Kong-based investment company, Composite Capital and New York-based Moore Strategic Ventures. Other than this, existing investors including Base Partners, London-based Venture Capital firm- RTP Global, US-based Telstra Ventures, gaming Venture Capital company- Play Ventures, Founders Circle Capital among a few more also participated in the financing round.

The latest funding round is the fourth Series D round that took the company’s total fund raised to USD 225.5 million.

Founded back in 2018 by Sai Srinivas Kiran G and Shubham Malhotra, Mobile Premier League or MPL is an online gaming platform which offers cash prizes to players while playing games. The Bengaluru-based start-up is one of India’s best gaming platform to win real cash. The start-up offers games across different categories like arcade, action, puzzle etc. According to the company, the platform currently enjoys over 60 million users in India and offers more than 50 games across multiple categories.

As mentioned in a report by Financial Express, the company mentions utilising this latest infusion of funds to expand its eSports portfolio and invest in organising online digital tournaments for its players. Furthermore, the company also plans to expand in international markets in this financial year. Although, MPL enjoys over 3.5 million users in Indonesia.

Sai Srinivas, Co-founder and Chief Executive Officer, Mobile Premier League mentions in a statement that this is the correct time for the eSports community in the country to thrive with home-made games. He also says that it is the best time to help Indian gamers get recognized for their talent.

According to a report by The Indian Express, MPL has been an official kit sponsor and merchandise partner for BCCI in November 2020. Before that in February 2019, Virat Kohli had announced to invest in the company and by March 2019, Virat Kohli was officially announced as a brand ambassador for Mobile Premier League.

According to a report by Statista and as mentioned by Financial Express, the Indian gaming industry is moving towards a massive boom in revenue within the next five years. The report by Statista exclusively mentions that at a CAGR of 12.5%, The revenue generation in the Indian gaming industry will rise from present USD 295 million to USD 531 million by 2025 with penetration growth from 8% to 10.2%.

With being more digitally advanced with affordable internet and smartphone devices, the penetration of gaming industry in the market will be rapid as the Indian market shows a lot of potential in technology and gaming in the near future.

Tags: fundingMobile Premier LeagueMPLVirat Kohli
Tweet54SendShare15
Previous Post

Meet the creator of WallStreetBets, Jaime Rogozinski – Part 2

Next Post

Remedico bags INR 4 crore funding in bridge round led by AWE Funds

Chhavideep Singh

Hi! I'm Chhavideep, If you like reading about technology, business and start-ups, you've come to the right place. Catch me: [email protected]

Recommended For You

Turkey’s Celebi Takes Legal Aim at India Over Security Clearance Cancellation Amid Pakistan Tensions

by Anochie Esther
May 17, 2025
0
Çelebi Aviation

In a rapidly escalating diplomatic and corporate standoff, Turkish aviation services company Çelebi Aviation has filed a legal challenge against the Indian government’s decision to revoke its security...

Read more

TikTok Faces EU Charges Over Breach of Content Transparency Laws

by Anochie Esther
May 17, 2025
0
Tiktok

TikTok, one of the world’s most popular social media platforms, is under intense scrutiny in Europe after being formally charged by EU regulators with breaching key online content...

Read more

Singtel Sells 1.2% Stake in Bharti Airtel for $1.54 Billion, Reduces Holding to 28.3%

by Rounak Majumdar
May 16, 2025
0
Singtel Sells 1.2% Stake in Bharti Airtel for $1.54 Billion, Reduces Holding to 28.3%

In keeping with its ongoing portfolio optimization plan, Singapore Telecommunications Ltd. (Singtel) has announced the sale of a 1.2% direct share in India's Bharti Airtel for $1.54 billion....

Read more
Next Post
Remedico

Remedico bags INR 4 crore funding in bridge round led by AWE Funds

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?