Last year, The Mobile Premier League (MPL), a Bengaluru-based esports and online gaming unicorn, introduced Mayhem Studios. Sequoia Capital, Steadview Capital, Truecaller, and other investors joined forces for a $20 million Series A round on behalf of Mayhem Studios. At a recent town hall meeting, the Mayhem Studios staff members were informed of the development. The business intends to use the funds to increase its resources and produce new video games in India. This article will examine MPL’s most recent round of fundraising, the first video game from Mayhem Studios, and the expansion of the Indian gaming industry.
MPL is a Bengaluru, India-based esports and online gaming unicorn. In order to produce AAA mobile games, which are video game franchises with sizable marketing and development budgets, the company established Mayhem Studios last year. A $20 million series A round of funding was recently provided to Mayhem Studios, with participation from Steadview Capital, Truecaller, and others. Sequoia Capital led the round. $20 million fundraising round for Mayhem Studios
The most recent round of fundraising for Mayhem Studios is important for the development and growth of the business. The money will be used to increase the capacity of Mayhem Studios and produce new video games in India. At a recent town hall meeting, the Mayhem Studios staff members were informed of the development. The round also included a personal investment from Bing Gordon. Chief product officer at the US-based venture capital firm Kleiner Perkins. Play-to-Earn Gaming Market Entry by MPL MPL raised about $150 million in September 2021 at a $2.3 billion valuation. In order to compete in the play-to-earn gaming market. The company also entered the web-based gaming industry and launched the non-fungible token (NFT) marketplace Good Game Exchange (GGX) last month.
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In order to create a gaming company that includes play-to-earn, skill-based real-money gaming, and Mayhem Studios, MPL entered the web-based gaming market. The First Video Game From Mayhem Studios Mayhem Studios’ battle royale game Underworld Gang Wars was released not long after the company was established in May 2022. Dream Sports, the parent company of Dream11, also owns a number of businesses that compete with the game development firm, such as Nazara Technologies and Dream Game Studios.
The gaming industry in India is competitive
In the Indian gaming market, Mayhem Studios is up against fierce competition from other businesses. Dream Sports, the parent company of Dream 11, owns Dream Game Studios. Another significant player in the Indian gaming industry is Nazara Technologies. In September 2021, the company raised about $150 million at a $2.3 billion valuation. MPL has investors, including Sequoia Capital, which oversaw the initial outside fundraising round for Mayhem Studios.
New Rules in India for Online Gaming
All forms of online gaming are now legal, with the exception of those that involve real money. Wagering and outcome betting, thanks to the Ministry of Electronics and Information Technology’s recent release of the industry’s final rules. The regulations also established a self-regulatory framework for validating the legitimacy of games. The new regulations, according to representatives of the gaming sector. It will increase regulatory clarity and are anticipated to promote foreign direct investment in India’s online gaming market.
Mayhem Studios will be able to increase its capabilities and produce new video games in India. Thanks to a $20 million funding round that included Sequoia Capital as the lead investor and participation from other investors. The Indian gaming market is expected to grow exponentially as MPL forays into web-based gaming. The play-to-earn gaming market, offering a plethora of opportunities for gaming studios like Mayhem Studios.