SIG, early-stage tech investor RTP Global, including MDI Ventures led MPL’s $90 million Series C financing round, with participation from present investors Sequoia India, Go-Ventures, and Base Partners. Times Internet and Salman Khan both are also early investors in MPL. The new funding brings MPL’s to-date boost to $130.5 million. It was valued between $375 million to $400 million pre-money, consistent with a person acquainted with the matter.

MPL operates a pure-play gaming platform that hosts a number of tournaments. The app, which has gathered over 60 million users, additionally serves as a publishing platform for different gaming firms. MPL, which does not develop video games of its own, hosts about 70 games across a couple of sports on the app today.

The Bangalore-based startup additionally gives fantasy sports, a section that has taken off in lots of components of India in latest years.

Because fantasy sports is only one part of the business, the coronavirus outbreak that has close most real-world matches has not impeded the startup’s boom in latest months. The startup claimed it has grown 4 instances since March this yr and more than 2 billion cash transactions had been recorded at the app to date.

“We’re competing with battle-hardened, decade old companies with much, much deeper pockets but it’s incredible what the young team has achieved over the past couple of years. When we were on the Play Store, a couple of years back, MPL was the fastest app to reach a 1M DAU ever in India!” tweeted Abhishek Madhavan, SVP of Marketing at MPL. “We signed Virat Kohli (pictured above), when we were a 3-month old company! When we got out of the Play Store, we were told growth will be very very hard to come by, every single marketing metric would fall.”

 “I believe that esports will be inducted by the Olympics way before than cricket does. And the market cap of esports will most probably will exceed those of all physical sports combined in the next 10 years,” he said.

“Even in an environment as challenging as the current one, we are impressed with the success and accessibility of the platform concept – giving users a unique variety of experiences and social interaction. MPL’s track record speaks for itself, so we’re excited to support the team as they grow and expand,” said Galina Chifina, Managing Partner at RTP Global, in a statement.

The startup plans to enlarge outside of India in the following months, stated Srinivas. He did not name the new markets, however recommended that India’s neighboring countries in addition to Japan and South Korea will probably be a part of it.

The startup additionally plans to enlarge its gaming catalog and provide more advertising and marketing assist to third-party developers, who presently either promote license to MPL or work via revenue-sharing settlement with the Indian startup.