India’s $945M Esports Platform Hits The U.S.

Esports and gaming platform Mobile Premier League launched in the U.S last week.

Mobile Premier League is owned by Galactus Funware Technology and has more than 81 million registered users. It works with third-party game developers to offer head-to-head matches and tournament play.

The India-based company has raised $225 million and is valued at $945 million.

“The U.S. is the largest market when it comes to gaming, so it’s always been on our mind,” said Said Srinivas, co-founder and CEO.

After its $95 million Series D funding round in February, Mobile Premier League acquired GamingMonk, a platform that hosts esports tournaments and has over 1.3 million users.

Esports is the hottest it’s ever been with investors:

• Team SoloMid, ranked the most valuable esports organization in 2020, announced a 10-year, $210 million naming rights partnership with FTX in June. 
• $16 million in scholarships were awarded to esports athletes this year.
• In March, Kevin Durant’s Thirty Five Ventures invested in Andbox. He also bought into Vision Esports as part of a $38 million capital raise in 2018.

The esports industry is expected to surpass $1.5 billion by 2023, per Esports Ecosystem Report.