Mobile Premier League raised $100 mn as valuation doubles in 4 months

Online gaming startup Mobile Premier League (MPL) raised around $100 mn in a fresh financing round valuing the company at a close $800 mn. The funding round was led by new investors including Composite Capital, Moore Strategic Ventures and Telstra Ventures, along with participation from a bunch of its existing backers, another person in the know said.

The valuation for MPL has almost doubled from its previous round when it stood at $450 mn, according to a ET. The real money competitive mobile gaming platform had brought onboard a clutch of investors like SIG Global and RTP Global, MDI Ventures, Pegasus Tech Ventures at the time.

MPL is a gaming platform that offers more than 70 real money games, including fantasy sports, rummy, poker, chess, 3D pool, ludo, and carrom. About 15-25% of its business comes from fantasy sports, depending on the offline seasonality of sports events.