MPL’s latest funding almost triples its valuation to $2.3 billion

By Anthony On Sep 16, 2021

Esports and online gaming platform Mobile Premier League () said it has raised a fresh round of funding led by Legatum Capital, a UAE-based investment firm — at a valuation of $2.3 billion. While the company did not offer details on the size of the fundraise, sources in the know said it had raised $150 million as the company’s valuation jumped 2.5 times compared to its previous fundraise.

MPL was valued at $945 million in its Series D round which it closed in February this year, as ET had reported. Its pre-money valuation then was about $850 million. Pre-money valuation is a company’s valuation before it receives the funds. “I think a large part of the valuation increase has to primarily do with the potential that MPL has. We are not a single country and category player,” CEO Sai Srinivas told ET. “Our focus has always been to build this global competitive gaming platform… MPL is in the business of building out infrastructure which is going to enable people from all of these countries to compete in global world-class tournaments,” he added.

Existing investors including Sequoia Capital India, SIG, RTP Global, Go-Ventures, Moore Strategic Ventures, Play Ventures, Base Partners, Telstra Ventures, and Founders Circle Capital also participated in the round.

Times Internet, part of the Times of India Group which also publishes this newspaper, is an early investor in MPL.

For all the latest Sports News Click Here

Read original article here

Denial of responsibility! TechAI is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.