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.