A mobile gaming platform, based out of Bengaluru announced that it has raised$35.5 million in Series A investment where companies by Sequoia India, Times Internet, and GoVentures participated. The gaming start-up will be investing the funding for enhancing user growth and marketing of the product. MPL is owned by Galactus Funware Technology Pvt. Ltd and was co-founded by ex-Zynga executive Sai Srinivas Kiran and Shubh Malhotra.
As per the company statement, there were other investors on board who were part of the round which included RTP Global, BeeNext, Base Growth, and Venture Highway.
The startup is less than a year old and was launched in September 2017 and provides a platform for mobile gamers focusing on gaming genres like arcade, skill-based or puzzles, adventure games, sports and so on. The platform also hosts multiplayer tournaments on its platform along where the winners get cash prizes.
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According to the company’s chief executive Sai Srinivas Kiran, the platform has a user base of over 25 million across iOS and Android.
“Sequoia India is very happy to back Sai and Shubh a second time, and believe solidly in their vision of creating the largest esports platform for India and other emerging markets. With their industry-leading growth and engagement metrics, MPL has the potential to become a major mobile internet company in India ” said Shailendra Singh, managing director, Sequoia Capital India in a statement.