One of the popular online gaming platforms MPL (mobile premier League) is in top talks for its exclusive latest funding round. It was led by its existing and some new investors which made it raise up to 150 dollar million, and putting it at a valuation of around more than 1 billion dollar which led it turn into a new Unicorn this year.
It is a form which mainly focuses on fantasy and E-sports full stop. It has been catching and getting popularized in India at a quick pace. Due to which more and more investors in the marketplace are coming up to cutting large text with a hefty premium in valuation.
The company works with third-party developers and then publishes dare games on the platform where users can easily participate in fun and skill based games which involves cricket puzzles chairs and crossword to win cash prizes according to the form it is stated that it has grown to over 70+ games and 7 million users till date.
Recently another fantasy gamer dream11 which experienced a 2X jump in valuation within six months and with this MPL also now joined the race of the sparkling growth.
For the latest funding series round the tops are on for the past few weeks with several existing investors which involves Composite capital, Moore strategic ventures, and SIG including new investors DST Global, stated by a person who knows about the matter.
If the discussion will have a final result or it would materialize, then it will be a third funding round for the two and half year old company in the past seven months.
In February 2021 the firm had raised 95 million dollars which kept it at an evaluation of INR 945 million dollars and back in 2020 it was valued at 90 million dollars.
Currently the base partners in the funding round were RTP Global, SIG, Telstra ventures, Founders Circle, Go Venture, Sequoia capital and Play ventures in its capital table.
With the new funding round MPL will be valued at 2 billion dollars stated by the source who wished not to be disclosed.