Mobile esports matchmaking platform Mobile Premier League has reached unicorn status following their latest investment, reaching a valuation of $2.3 billion.
Mobile gaming is king in India, with titles such as PUBG Mobile and Call of Duty: Mobile sitting among the most popular titles in the country.
Mobile Premier League, a platform that allows gamers to find matches and daily esports tournaments, are a prime example of this being the case — especially after their new round of investment.
The Indian esports company have been valued at $2.3b following their Series E funding round. This stage of investment is quite uncommon, especially in esports, with companies potentially reaching this point when they’re still not ready to list themselves publicly.
The investment came from Legatum Capital, a Dubai-based investment firm. MPL have not revealed the financial details of the round, but, according to Business Standard, the company raised $150m.
While Mobile Premier League do indeed appeal to casual gamers, they have a section dedicated to esports on their platform. They cover some games that aren’t typically considered as part of the esports conversation, especially in the West, including speed chess and pool.
“This investment is a recognition of the potential of the Indian gaming and esports industry and an endorsement of the capability of MPL to expand globally,” said MPL CEO and co-founder Sai Srinivas.
“MPL’s proven success in India and Indonesia encouraged us to launch in the US, one of the world’s largest gaming markets. Our US operations are off to a promising start and we’re thus fulfilling our resolve to make our platform the esports and gaming hub of the world.”