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Esports platform MPL valued at $2.3 billion in its Series E financing

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Fanatics to Acquire PointsBet’s US Assets for $150M

 

Mobile Premier League, Asia’s largest esports and skill gaming platform, announced that it raised its Series E round of financing led by Legatum Capital at a pre-money valuation of $2.3 billion.

MPL recently began operations in the United States of America and completed two years of operations in Indonesia, making it the only mobile gaming platform from India with a growing international presence. MPL currently has over 85 million registered users globally. It is endorsed by Indian Cricket Captain Virat Kohli and earlier this year signed Indonesian actor and internet celebrity Baim Wong as its brand ambassador in Indonesia.

The latest fundraise was led by Legatum Capital. Existing investors including Sequoia, SIG, RTP Global, Go-Ventures, Moore Strategic Ventures, Play Ventures, Base Partners, Telstra Ventures, and Founders Circle Capital also participated in the round.

“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. 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” said Sai Srinivas, Co-founder and CEO, MPL. 

MPL will use the fresh infusion of capital to finance its global expansion, invest in its home-grown technology, and drive continued growth in the Indian market.

“We are seeing strong traction globally as a function of our direct to consumer approach. Our platform strategy allows us to pool user liquidity, enable synchronous competitions, aggregate gaming content, and drive superior matchmaking, which all together enable best-in-class user retention and monetisation. We’re thrilled to partner with Legatum Capital as we continue to work on our vision of building the world’s largest esports platform,” said Joe Wadakethalakal, SVP, Corporate Development, MPL

Legatum CEO and new MPL board member, Mark Stoleson, said “Legatum is delighted to have led this latest round of funding for MPL as it continues its incredible growth trajectory and becomes the world’s leading esports and skill gaming platform. It is an honour to support Sai, Shubh, and the outstanding team at MPL and to join the other world-class investors in building a company that provides a top-class gaming experience for users, unmatched distribution for developers and a commitment to building a company with the best global talent and a winning culture. Legatum’s investment in MPL is another example of our strategy to invest in world class teams building world-scale companies that define categories and serve customers with integrity.”

“We at Play Ventures have been very impressed by the speed that the MPL team is progressing with on their mission to bring competitive gaming worldwide. We have no doubt that their entry in the US market will further strengthen their position as the number one competitive gaming platform in the world,” said Henrik Suuronen, Founding Partner, Play Ventures. 

Galina Chifina, Partner, RTP Global, said, “It was clear to us from the beginning that MPL had the potential to become one of India’s major start-up success stories. Sai, Shubh and the team have taken the platform to new heights in 2021 and this next round of funding has secured MPL’s well-deserved status as a unicorn. We are delighted to be supporting the company with its next stage of growth. Congratulations to the team.”

Earlier this year, MPL acquired esports firm Gaming Monk to develop a full suite of esports and live streaming capabilities. In early September the platform announced a partnership with the Play Magnus Group, founded by Chess superstar Magnus Carlsen. With this partnership, MPL will host the official Indian Circuit for players to qualify for the Meltwater Champion Chess Tour. This is the first ever regional expansion for the Champion Chess Tour.

MPL, headquartered in Bengaluru, also has offices in Pune, New Delhi, Jakarta, Singapore, and New York.

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North Star Network Acquires Um Dois Esportes

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North Star Network has acquired Um Dois Esportes, a sports coverage and analysis site created from the merger of Gazeta Do Povo and Tribuna do Paraná in 2020.

Julien Josset, co-founder of North Star Network, said: “Thank you to the team at GRPCOM for their faith in us to take the brand forward. Um Dois Esportes is an established and renowned site in Paraná State, and we’re excited about the challenge of developing this asset.

“We’re happy to maintain the collaboration with the existing editorial team, and look forward to working with them, bringing our unique NSN approach, to take UDE forward.”

NSN’s signing of Um Dois Esportes is the media house’s fourth acquisition of 2024, following the recent deals to purchase UK-based SportsMole and MrFixitsTips, as well as Chilean site AlAireLibre, which was announced in March.

The latest addition to the North Star media portfolio joins existing assets including Top Mercato, Afrik-Foot, and Vringe. The Paris-based company already oversees a significant Brazilian operation, delivering over 6 million sessions per month, from the likes of Trivela, Premier League Brasil and Lakers Brasil.

NSN will retain Curitiba-based journalists from the Um Dois Esportes legacy team to maintain the asset’s unique tone and popular coverage of the Paraná sports scene across site and social.

Rafael Mello, Director of GRPCOM, said: “We were surprised by the interest, and initially had no intention of selling Um Dois, but as the conversations evolved, we realised this was a serious group with good intentions. We were very happy to see our project being valued by a large international group and going global, demonstrating the quality of the content we produced.

“We’re also proud that North Star inherited our journalists, who are truly responsible for the success of the product we offer readers every day.”

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L&G esports team founded by Alona Shevtsova won the national Dragon EC Cup tournament

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The team began competing in top tournaments and almost immediately made it to the Advanced division of the ESEA League Europe competition. The team also participated in and took prizes in European tournaments such as the SCL League, WhiteBit Crypto Open, Phoenix League, and local competitions.

 

Ukrainian esports team L&G won the Dragon EC Cup tournament, held on the 20th of April by Dragon Esports Club. Four teams competed in the tournament’s final: Lazer Cats, L&G, which received a direct invitation to the final stage, EsportsBattle, and ThunderFlash, which had open qualifiers. During the Grand Final, the L&G team competed with Lazer Cats on Mirage, Anubis, and Vertigo maps.

“This victory is a testament to the exceptional talent and commitment of our players, as well as the collective effort of our coaching staff and support personnel,” said Alona Shevtsova, founder of L&G Esports. “We are immensely proud of their accomplishments and grateful for the unwavering support of our fans.”

L&G is among the top 5 Ukrainian teams in Counter-Strike: Global Offensive. It was founded in 2021. The previous name was Leogaming, and it was created on the initiative of the famous Alona Shevtsova from the fintech sector.

The team began competing in top tournaments and almost immediately made it to the Advanced division of the ESEA League Europe competition. The team also participated in and took prizes in European tournaments such as the SCL League, WhiteBit Crypto Open, Phoenix League, and local competitions. The team players are marat2k, r0ublE, kr1vda, kL1o, OneUn1que, rji (coach).

The winners received a 50,000 UAH prize. Dragon Esports Club also prepared a 15-skin giveaway for the broadcast’s viewers.

It is worth mentioning that the L&G team created its merch items, which are available for order worldwide. To get more information about the team, visit the L&G Instagram page, Twitch, or Telegram Channel.

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Introducing iSports at iCode: A Cutting-Edge Esports Program for Aspiring Gamers

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iCode, a premier coding and STEM learning program for kids, announced its latest addition to its program offerings: iSports, a one-of-a-kind esports program geared towards young gamers aged 8-13.

Starting the week of June 3, 2024, this innovative 12-week esports course will be offered across the entire iCode franchise and is dedicated to introducing students to the thrilling world of competitive gaming in a safe and secure environment. This season will revolve around the popular game Fortnite, which will feature a special iCode-only map within the platform.

“iSports will serve as a great summer activity for kids to get out of the house, but the overall goal is to foster personal development through the many dynamic skills competitive gaming requires. The iSports program places a strong emphasis on developing important life skills like sportsmanship, teamwork and strategic thinking. It will keep participants engaged and learning while school is out, and parents can rest assured knowing that their children are playing in a controlled environment,” Abid Abedi, founder and CEO of iCode, said.

Throughout the 12-week iSports season, participants will dedicate one hour per week to gameplay and skill development. All sessions are led and supervised by knowledgeable iCode coaches. Their administration along with the exclusive iCode-only map is specifically designed to provide a secure gaming experience with a safe, monitored environment. The program culminates in the opportunity to compete in a tournament-style championship to crown the best gamer across iCode national network.

iCode is partnering with MSI to supply an array of state-of-the-art gaming equipment including high-quality headsets and top-tier gaming computers equipped with speedy processors. Gamers will also have access to advanced gaming chairs for maximum efficiency and comfort. This setup will ensure that every participant enjoys a premium gaming experience, mirroring the standards of professional esports environments. In addition, MSI will provide prizes to the top iSports gamers, including one of their brand new Claw handheld gaming devices.

“MSI has been dedicated to cultivating gaming and esports for years with significant achievements. We’re thrilled and honored to partner with iCode to develop this community to another level,” David Chou, VP of Sales at MSI, said.

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