Mobile Premier League Hits Unicorn Status on Series E Funding

    • Indian gaming startup Mobile Premier League reached unicorn status with a $2.3 billion valuation as it expands in the U.S.
    • The company has around 85 million global users.

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Mobile Premier League was valued at $2.3 billion following its Series E fundraise, as it seeks to expand in the U.S.

People familiar with the deal said that MPL raised $150 million in the round, led by Legatum Capital. 

The company produces mobile games that allow players to face off against each other with real money at stake. It will use the cash infusion to expand globally, grow further in India, and develop software.

  • MPL, which bills itself as the largest esports and skill-gaming platform in Asia, has 85 million registered users, about 75 million of which are in India and Indonesia.
  • Launched in Oct. 2018, MPL earned $2.5 million in the fiscal year ending March 31, 2020, against $40 million in expenses.
  • The company launched in the U.S. in July and is targeting 300,000 users and $100 million in gross merchandise value by the end of the year.

In April, MPL acquired Dehli-based esports tournament platform Gaming Monk for an undisclosed amount.

The latest valuation is more than double the $945 million figure MPL received after a $95 million Series D raise in February.