Startupidia

Mobile Premier League (MPL)

Mobile Premier League (MPL) is an Indian online gaming and esports platform headquartered in Bengaluru, Karnataka. Founded in 2018 by Sai Srinivas Kiran Garimella and Shubham Malhotra, MPL offers a variety of skill-based games, including fantasy sports, card games, puzzles, and arcade games, where users can compete for cash prizes. The platform has expanded to markets like India, Indonesia, and the United States, serving over 90 million users as of 2023. MPL operates under Galactus Funware Technology Pvt. Ltd. and has raised $396 million in funding, achieving a valuation of $2.19 billion by August 2023. The company focuses on user engagement through competitive tournaments and partnerships with sports leagues like the NBA and Pro Kabaddi League.[1]

Mobile Premier League (MPL)
Company typePrivate
IndustryOnline gaming, Esports
FoundedSeptember 2018; 6 years ago (2018-09)
FounderSai Srinivas Kiran Garimella
Shubham Malhotra
HeadquartersBengaluru, Karnataka, India
Key people
Sai Srinivas Kiran Garimella (CEO)
ProductsMobile gaming platform, fantasy sports, esports tournaments
Revenue₹ 1082 crore (FY24)
Number of employees
397 (October 2024)
ParentGalactus Funware Technology Pvt. Ltd.
Websitewww.mpl.live

Founders & Leadership

  • Sai Srinivas Kiran Garimella (Co-founder and CEO): A serial entrepreneur, Sai Srinivas holds a degree in computer science from the Indian Institute of Technology Madras. Prior to MPL, he co-founded Creo, a media streaming hardware startup acquired by Hike in 2017. Srinivas leads MPL’s strategic vision and product development, driving its growth in the esports industry.[2]
  • Shubham Malhotra (Co-founder): Malhotra, also a computer science graduate, previously worked with Srinivas at Creo and Bharti SoftBank. He oversees MPL’s technology and operations, contributing to platform scalability and user experience enhancements.[3]

Timeline

Year Milestone
2018 MPL founded by Sai Srinivas Kiran Garimella and Shubham Malhotra in Bengaluru. Launched initial gaming platform with puzzle and casual games.[4]
2019 Expanded to fantasy sports. Raised $35.5 million in Series A funding.[5]
2020 Raised $90 million in Series C funding. Reached $1 billion GMV.
2021 Became India’s second gaming unicorn with $2.3 billion valuation after Series E funding. Acquired GamingMonk.[6]
2022 Acquired GameDuell, a German game studio, to expand internationally.[7]
2023 Valued at $2.19 billion after Series F funding. Acquired Good Game Exchange.[8]
2024 Acquired CloudFeather Games to enhance tech capabilities. Revenue reached $130 million in FY24.[9]
2025 Invested in AskMyGuru through a seed round.[10]

Funding

Date Round Amount Investors
July 2018 Seed $5 million BEENEXT, others[11]
April 2019 Series A $35.5 million Sequoia India, Times Internet, GoVentures, RTP Global, BEENEXT, Base Ventures, Venture Highway[12]
September 2020 Series C $90 million SIG, RTP Global, MDI Ventures, Pegasus Tech Ventures, Sequoia Capital India, Go-Ventures, Base Partners[13]
February 2021 Series D $95 million Composite Capital, Moore Strategic Ventures, Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders Circle, Play Ventures[14]
September 2021 Series E $150 million Legatum Capital, RTP Global, Go-Ventures, Play Ventures, Base Partners, Founders Circle Capital, Times Internet[15]
August 2023 Series F $115 million Composite Capital, others[16]

Business Model

MPL operates a freemium model, offering free-to-play games while generating revenue through entry fees for paid tournaments, where users compete for cash prizes. The platform takes a commission on winnings, typically a percentage of the prize pool. MPL also earns through in-app purchases, advertisements, and sponsorships from brands and sports leagues. Its customer segments include casual gamers, esports enthusiasts, and fantasy sports players, primarily targeting smartphone users in India, Indonesia, and the United States. Partnerships with game developers and sports organizations enhance its game portfolio and user engagement.[17]

Products / Services

  • Mobile Gaming Platform: Offers over 60 skill-based games, including chess, ludo, rummy, carrom, and 8-ball pool, available on Android and iOS.[18]
  • Fantasy Sports: Provides fantasy cricket, football, and basketball leagues, allowing users to create virtual teams and win based on real-world player performance.[19]
  • Esports Tournaments: Hosts competitive tournaments with cash prizes, attracting professional and amateur gamers.[20]
  • Poker Academy: Launched in 2022, it offers lessons from professional poker players to improve user skills.[21]

Growth & Metrics

As of 2023, MPL serves over 90 million users, primarily in India, with a growing presence in Indonesia and the United States. The company reported a revenue of ₹ 1082 crore ($130 million) in FY24, a 22% increase from the previous year.[22] MPL’s gross merchandise value (GMV) reached $1 billion in 2020. The platform engages 14% of India’s smartphone users and employs 397 people as of October 2024.[23] Its valuation stood at $2.19 billion in August 2023.[24]

Legal Entity Information

Parameter Details
Legal Name Galactus Funware Technology Pvt. Ltd.
Foundation Date September 2018
Registrar of Companies (ROC) ROC Bangalore
Corporate Identification Number (CIN) U72900KA2018PTC116094
Registered Address 2nd Floor, No. 406, 3rd Cross, OMBR Layout, Banaswadi, Bengaluru, Karnataka 560043, India
Company Status Active
Directors Sai Srinivas Kiran Garimella, Shubham Malhotra
Authorized Share Capital ₹ 1 crore
Paid-up Capital ₹ 0.11 crore

Acquisitions and Investments

  • Acquisitions:
    • GamingMonk (2021): An esports community platform to enhance MPL’s community engagement.[25]
    • GameDuell (2022): A German game studio acquired to expand MPL’s international presence.[26]
    • Good Game Exchange (2023): An NFT marketplace to bolster MPL’s digital asset offerings.[27]
    • CloudFeather Games (2024): A game development tools startup to enhance MPL’s technological capabilities.[28]
  • Investments:
    • AskMyGuru (2025): Seed round investment to support an educational platform.[29]

Media & Public Recognition

MPL has been featured in prominent publications like TechCrunch, Forbes India, and Moneycontrol for its rapid growth and unicorn status.[30] The company received the "Best Gaming Startup" award at the 2020 India Digital Awards. Posts on X have highlighted its $2.3 billion valuation and absence of Chinese investors, reflecting positive public sentiment. MPL’s partnerships with the IPL and Bigg Boss have enhanced its brand visibility.[31]

FAQs

What is Mobile Premier League?
MPL is an Indian online gaming platform offering skill-based games and esports tournaments with cash prizes.
Who founded MPL?
MPL was founded by Sai Srinivas Kiran Garimella and Shubham Malhotra in 2018.
What is MPL’s valuation?
As of August 2023, MPL is valued at $2.19 billion.
What types of games does MPL offer?
MPL offers fantasy sports, card games, puzzles, arcade games, and action games.
Where does MPL operate?
MPL operates in India, Indonesia, and the United States.

External Links

Related Startups

References

  1. ↑ "Mobile Premier League". Tracxn. Retrieved 21 May 2025.
  2. ↑ Singh, Manish (4 February 2021). "Indian gaming platform Mobile Premier League valued at $945M in $95M fundraise". TechCrunch. Retrieved 21 May 2025.
  3. ↑ "Mobile Premier League". YourStory. Retrieved 21 May 2025.
  4. ↑ Singh, Manish (24 April 2019). "Mobile Premier League Raises $35.5 Mn Funding". Inc42. Retrieved 21 May 2025.
  5. ↑ Singh, Manish (24 April 2019). "Mobile Premier League Raises $35.5 Mn Funding". Inc42. Retrieved 21 May 2025.
  6. ↑ "MPL becomes a unicorn". Legatum. Retrieved 21 May 2025.
  7. ↑ "Mobile Premier League". StartupTalky. 24 February 2025. Retrieved 21 May 2025.
  8. ↑ "MPL acquires NFT marketplace Good Game Exchange". Entrackr. 12 December 2023. Retrieved 21 May 2025.
  9. ↑ "Skill-gaming unicorn MPL's parent firm's FY24 revenue jumps 22% to $130 million". Moneycontrol. 22 October 2024. Retrieved 21 May 2025.
  10. ↑ "Mobile Premier League 2025 Company Profile". PitchBook. Retrieved 21 May 2025.
  11. ↑ "Sequoia leads investment in Creo founders' new gaming startup MPL". VCCircle. 8 November 2018. Retrieved 21 May 2025.
  12. ↑ Singh, Manish (24 April 2019). "Mobile Premier League Raises $35.5 Mn Funding". Inc42. Retrieved 21 May 2025.
  13. ↑ "Mobile Premier League". StartupTalky. 24 February 2025. Retrieved 21 May 2025.
  14. ↑ Singh, Manish (4 February 2021). "Indian gaming platform Mobile Premier League valued at $945M in $95M fundraise". TechCrunch. Retrieved 21 May 2025.
  15. ↑ "MPL becomes a unicorn". Legatum. Retrieved 21 May 2025.
  16. ↑ "MPL - 2025 Company Profile". Tracxn. 16 May 2025. Retrieved 21 May 2025.
  17. ↑ "Mobile Premier League". StartupTalky. 24 February 2025. Retrieved 21 May 2025.
  18. ↑ "Mobile Premier League". YourStory. Retrieved 21 May 2025.
  19. ↑ "Mobile Premier League". StartupTalky. 24 February 2025. Retrieved 21 May 2025.
  20. ↑ Singh, Manish (4 February 2021). "Indian gaming platform Mobile Premier League valued at $945M in $95M fundraise". TechCrunch. Retrieved 21 May 2025.
  21. ↑ Sarin, Shradha (9 June 2022). "Mobile Premiere League has grown at an explosive pace". Forbes India. Retrieved 21 May 2025.
  22. ↑ "Skill-gaming unicorn MPL's parent firm's FY24 revenue jumps 22% to $130 million". Moneycontrol. 22 October 2024. Retrieved 21 May 2025.
  23. ↑ "MPL - 2025 Company Profile". Tracxn. 16 May 2025. Retrieved 21 May 2025.
  24. ↑ "MPL - 2025 Company Profile". Tracxn. 16 May 2025. Retrieved 21 May 2025.
  25. ↑ "MPL becomes a unicorn". Legatum. Retrieved 21 May 2025.
  26. ↑ "Mobile Premier League". StartupTalky. 24 February 2025. Retrieved 21 May 2025.
  27. ↑ "MPL acquires NFT marketplace Good Game Exchange". Entrackr. 12 December 2023. Retrieved 21 May 2025.
  28. ↑ "MPL acquires game development tools startup CloudFeather Games". Moneycontrol. 10 December 2024. Retrieved 21 May 2025.
  29. ↑ "Mobile Premier League 2025 Company Profile". PitchBook. Retrieved 21 May 2025.
  30. ↑ Sarin, Shradha (9 June 2022). "Mobile Premiere League has grown at an explosive pace". Forbes India. Retrieved 21 May 2025.
  31. ↑ "To-Be Unicorn MPL Spent INR 21 For Every Rupee In Revenue In FY20". Inc42. 12 February 2021. Retrieved 21 May 2025.
Retrieved from "http://startupidia.org/index.php?title=Mobile_Premier_League_(MPL)&oldid=2147"