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30 Mar 2019

MPL likely to get $30 million funding from Go-Jek and more

MPL Virat Kohli

Real money skill gaming startup Mobile Premier League (MPL) is likely to close a $30 million funding round that will be led by Indonesian transportation and logistics company Go-Jek.

According to a report in The Times of India, the discussions between Go-Jek and MPL are at an advanced stage and the transaction is likely to be completed soon.

The Times of India report further states that apart from Go-Jek, Times Internet (a Times of India group company) and existing investor Sequoia Capital are also likely to participate in the funding round, that is likely to peg the valuation of the gaming startup at $150 million.

Last year, MPL had raised $5 million in a Series A funding round led by Sequoia Capital, in which some existing angel investors also participated.

Founded by technology entrepreneurs Sai Srinivas Kiran Garimella and Shubham Malhotra, MPL allows users to participate in real money contests and tournaments of various skill games such as fruit chop, monster truck, space breaker, sudoku, virtual cricket etc.

In the past few months, the company has evolved an aggressive marketing campaign through various channels, focusing on new user acquisition. The gaming startup claims to have acquired over 20 million registered users on its platform in a short span of less than one year.

Earlier this month, MPL had announced that Indian cricket team captain Virat Kohli has become the company’s brand ambassador. Kohli now features prominently on MPL’s online, social media and television marketing campaigns.

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