Esports Startup MPL Turns Unicorn With $2.3 Bn Valuation

Esports Startup MPL Turns Unicorn With $2.3 Bn Valuation

SUMMARY

Mobile Premier League (MPL) has raised fresh capital in Series E round from Legatum Capital with participation from Sequoia, SIG, RTP Global, Go-Ventures and others

With MPL, India has seen 25 Indian startups entering the unicorn club in 2021 to date

MPL’s valuation is said to have doubled from $925 Mn in February this year to $2.3 Bn within six months

India’s esports gaming startup Mobile Premier League (MPL) is the new entrant to the celebrated unicorn club from the country. The Bengaluru-based gaming platform closed its Series E round by raising around $150 Mn from Legatum Capital, Accrete Capital and Gaingels LLC, at pre-money valuation of $2.3 Bn. Existing investors including Moore Strategic Ventures LLC and RTP Global have also participated in the round. 

With MPL, India now has 25 startups that have entered the unicorn club (total 67 to date). MPL is also the second esports platform after Dream11 to cross the valuation mark of $1 Bn. MPL had last raised $95 Mn in February this year at a valuation close to $925 Mn. The earlier round was led by new investors in Composite Capital, Moore Capital and Telstra Ventures, along with participation from a bunch of its existing backers. It appears that the startup has doubled its valuation in the short period of six months. 

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