India’s MPL Raised $75 Million Led by SIG Global India Fund

India’s MPL Raised  Million Led by SIG Global India Fund

The parent entity of digital fantasy gaming platform Mobile Premier League (MPL), M League, has raised $75 million in an undisclosed funding round led by private equity firm SIG Global India Fund, Entrackr reported on Friday.

Existing investors including venture capital firms Beenext and PennBrook Capital, along with Bae Growth also participated in the funding round.

SIG Global invested $34 million while Sequoia Capital added $11.5 million and RTP Global $12.5 million in MPL’s holding company, M League.

Other investors in the round included GV Games, MDI Ventures and CE Ventures, the report said citing regulatory filings in Singapore.

MPL has so far secured about $110 million across three institutional rounds, the report said.

Founded in 2018 by Sai Srinivas Kiran G and Shubham Malhotra, MPL says it is a skill-based esports platform. It lets users choose a game such as Sudoku and Crosswords and then pick a tournament. Each tournament runs for a certain duration and has a specific number of players. Once tournament results are announced, winners can cash out using mobile wallets or bank transfer. Apart from India, MPL also has a presence in Indonesia.

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