Sequoia, Go-Ventures back $3.2m Series A for India’s Mobile Premier League

Photo by Paul Hanaoka on Unsplash

Bengaluru-based mobile eSports gaming platform Mobile Premier League (MPL) has raised $35.5 million in a Series A round led by Sequoia India, Times Internet and Go-Ventures, the venture capital arm of Indonesia’s GOJEK.

Other investors in the round included RTP Global, BEENEXT, Base Growth, and Venture Highway, the company said on Wednesday.

MPL had last raised $5 million in seed funding from several investors, including Sequoia India and BEENEXT, in November last year.

“Our goal is to build India’s largest Mobile eSports Platform which is accessible to all,” said MPL co-founder and CEO Sai Srinivas Kiran G. “Like with everything else, competitive gaming in India will be mobile first and MPL wants to be the platform of choice for the user.”

MPL said it will use the proceeds to invest in products and accelerate its user growth in India. It claims it currently achieves over 25 million installs with a monthly growth rate of 20-30 per cent.

“MPL has captured the imagination of gamers on smartphones like no other platform out there. Skill based competitive casual games are highly engaging social experiences, and we believe MPL will be a leader in this category globally,” said Times Internet’s corporate development vice president Miten Sampat.

The appetite for gaming in India has been rapidly surging while the number of game developers in the country has increased from 25 in 2010 to 250 in 2018, according to a recent report by Forbes. India’s gaming industry is forecast to reach $1 billion next year.

Also Read:

India Dealbook: Mobile Premier league bags $5m; RB Investments backs Let’s Meat

Indonesian unicorn GOJEK said to invest in two Indian companies

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.