MPL raised $800 million in a funding round

In a fresh funding round valuing the company at almost $800 million, the online gaming startup Mobile Premier League (MPL) has raised about $100 million, said two people in the know.

New investors, including Composite Capital, Moore Strategic Ventures, and Telstra Ventures, have led the new fundraising, along with involvement from a bunch of their current backers, another person in the know said.

last year, the valuation for MPL has almost doubled from its previous round when it stood at $450 million. The competitive mobile gaming platform for real money had brought a clutch of investors such as SIG Global and RTP Global, MDI Ventures, Pegasus Tech Ventures at the time onboard. Early investors in MPL include the Times Group, which publishes this article, Sequoia India, Go-Ventures, and Times Internet.

MPL’s overall investment collected will go up to $230 million once the funding round is made official.

In the past year, real-money gaming has reported a major bump as people stayed home amid the pandemic-led lockdown. Among others, MPL competes with Dream11, WinZo, Super, MPL grew more than fourfold between March and September, reaching over $1 billion in gross merchandise value (GMV).