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Tuesday, January 26, 2021

MPL incubates $5mn fund for global game developers

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Bangalore-based mobile gaming startup Mobile Premier League (MPL) has announced the creation of an incubation fund for game developers globally. The company, which has over 60 million registered gamers has set aside INR 37 crores for the project.

South Asia is a growing market for internet based companies, specifically for gaming & fantasy startups. Mobile Premier League, which was founded in the year 2018 has surged its userbase to an exponential levels. The platform allows game-developers to register and integrate their games and earn a share of profit to the MPL’s monetization program.

MPL has over 60 million registered users.

In a recent Series C funding, the company raised $80mn to facilitate further development of their application and expansion globally. The company had raised $35mn last year.

This year the Indian gaming spectrum has recorded significant growth contributed by the unprecedented global pandemic.

Just last week, Indian gaming startup WinZOO had raised an undisclosed sum from Steve Pagliuca. They also set aside a similar fund to promote the gaming culture in India through game developers. WinZO had a game developer fund of $5 million (approx. ₹37.3 crore) to boost game development in India.

“We are privileged to have partnered with talented game developers from all over the country and are glad that our platform helped them monetize their games. We at MPL recognize the tremendous potential that the Indian game developer ecosystem has and thus, have announced a ₹37-crore fund,” Shubh Malhotra, co-founder, Mobile Premier League, said in a statement, according to Mint.

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