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MPL acquires e-sports startup GamingMonk

MPL acquires e-sports startup GamingMonk
Photo Credit: Pexels
20 Apr, 2021

Sequoia Capital-backed fantasy gaming and esports platform Mobile Premier League (MPL) has acquired New Delhi-based GamingMonk.

Financial details of the deal were not disclosed.

The acquisition will help MPL to accelerate the launch of its new tournament IPs and develop a full suite of esports and broadcasting capabilities, according to a statement. 

As part of the acquisition, MPL has absorbed the entire GamingMonk team. 

GamingMonk was founded by Amity University graduates Abhay Sharma and Ashwin Haryani in November 2014. It started out as an e-commerce marketplace for consoles, gaming titles and other accessories, and later pivoted to become an organiser of e-sports events. 

The company currently hosts esports tournaments across multiple platforms including PC, console and mobile, creating an integrated ecosystem across esports, live streaming, and content discovery. The platform has hosted tournaments of games such as PUBG, CS:GO, DOTA 2, FIFA, Call of Duty, and Clash Royale. 

GamingMonk has a registered user base of over 1.3 million users as of April, the statement said. 

In its last known funding, the startup secured $100,000 in March 2019 from Japanese firm GameWith, Inc., which owns and operates a game information website.  

 In October 2018, it raised Rs 4 crore  from Japanese seed investment firm Incubate Fund and Google India managing director Rajan Anandan. A clutch of other investors including Stellaris Venture Partners, Smile Group, and AdvantEdge also participated in that round. 

Venture capital firm AdvantEdge had previously invested in GamingMonk in September 2017. 

MPL also announce the launch of Esports Arena, the banner under which the platform will host fortnightly esports tournaments. Each of these tournaments will carry a cash prize of Rs 10 lakh and entry is free for all gamers. MPL will also stream the games on its social media platforms to millions of viewers, the statement added. 

“In our mission to serve gamers in India, GamingMonk will augment our efforts in reaching our target audience and engage with our users effectively. With the increased consumption of esports in the last couple of years and it becoming as competitive as any other sport, it gives us immense pleasure to present our users with the best of games to play, and enjoy their passion for gaming,” Sai Srinivas, co-founder and CEO, MPL, said. 

Bengaluru-based MPL bagged $95 million in February which valued the company at $945 million. The total capital raised by the firm over the past three years stands at $225.5 million. The latest round was led by Composite Capital and Moore Strategic Ventures, with participation from Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders Circle and Play Ventures.