# M-League

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/m-league

- Industry: Software
- Headquarters: Singapore, Singapore
- Website: www.mleague.gg/
- Total disclosed funding: $363M
- Latest round: Series E (Jul 7, 2022)
- Investors on record: 24

## About

M-League Ltd. specializes in the development and publishing of gaming products, functioning out of Singapore since its founding in 2018. The company has executed 5 deals, with its most recent funding round, Series E, occurring on July 7, 2022. M-League has successfully raised a total of USD 144.21 mn from investors including Sequoia Capital and RTP Global, valuing the company at USD 2.2 billion. The founder's history is not specified in the available information.

M-League offers a comprehensive suite of gaming products and services designed for diverse audiences, including skill-based gaming and Free-to-Play (F2P) titles. Its platform, Blast+, supports game developers in hosting tournaments across genres like sports and battle royale. The flagship title, Underworld Gang Wars (UGW), is the first Indian-made AAA battle royale game and part of a portfolio exceeding 90 games, reaching over 170 million users globally.

In the most recent fiscal year 2023, M-League reported revenue of USD 104.63 mn, while experiencing an EBITDA of USD -25.80 mn. Revenue is generated through various channels such as in-game purchases and partnerships with developers, facilitated by the Blast+ division.

The Series E funding raised in July 2022 will be utilized to enhance product development and expand into new markets. M-League plans to launch new gaming titles in the upcoming year and is targeting growth in regions such as Southeast Asia and Europe. This strategic funding will support ongoing innovations and facilitate entry into these new geographic markets.

## Funding rounds

- Series E, Jul 7, 2022, $144M — Hong Shan, Alameda Capital, RTP Global, Founders Circle Capital, Titanium Ventures, Gaingels, Base Partners, Argor, Play Ventures, Accrete Capital, SIG Global India Fund, Toy Ventures, Novo Capital
- Series D, May 8, 2021, $98M — RTP Global, Founders Circle Capital, Titanium Ventures, Moore Strategic Ventures, Argor, Play Ventures, SIG Global India Fund, VGames, Gentree Fund, Composite Ventures
- Series C, Sep 18, 2020, $89M — Hong Shan, Crescent Enterprises, RTP Global, Pegasus Tech Ventures, BEENEXT, MDI Ventures, Base Partners, Argor, SIG Global India Fund, PennBrook Capital
- Series B, Apr 16, 2019, $26M — Hong Shan, RTP Global, BEENEXT, Gojek, Base Partners, Argor
- Series A, Jun 7, 2018, $5.5M — Hong Shan, BEENEXT, General Catalyst India

## Investors

- Hong Shan — Series A, Series B, Series C, Series E
- BEENEXT (https://capitalatlas.ai/funds/beenext) — Series A, Series B, Series C
- General Catalyst India (https://capitalatlas.ai/funds/general-catalyst-india) — Series A
- RTP Global (https://capitalatlas.ai/funds/rtp-global) — Series B, Series C, Series D, Series E
- Gojek — Series B
- Base Partners (https://capitalatlas.ai/funds/base-partners) — Series B, Series C, Series E
- Argor (https://capitalatlas.ai/funds/argor) — Series B, Series C, Series D, Series E
- Crescent Enterprises — Series C
- Pegasus Tech Ventures (https://capitalatlas.ai/funds/pegasus-tech-ventures) — Series C
- MDI Ventures (https://capitalatlas.ai/funds/mdi-ventures) — Series C
- SIG Global India Fund — Series C, Series D, Series E
- PennBrook Capital (https://capitalatlas.ai/funds/pennbrook-capital) — Series C
- Founders Circle Capital (https://capitalatlas.ai/funds/founders-circle-capital) — Series D, Series E
- Titanium Ventures (https://capitalatlas.ai/funds/titanium-ventures) — Series D, Series E
- Moore Strategic Ventures (https://capitalatlas.ai/funds/moore-strategic-ventures) — Series D
- Play Ventures (https://capitalatlas.ai/funds/play-ventures) — Series D, Series E
- VGames (https://capitalatlas.ai/funds/vgames) — Series D
- Gentree Fund (https://capitalatlas.ai/funds/gentree-fund) — Series D
- Composite Ventures (https://capitalatlas.ai/funds/composite-ventures) — Series D
- Alameda Capital — Series E
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series E
- Accrete Capital (https://capitalatlas.ai/funds/accrete-capital) — Series E
- Toy Ventures (https://capitalatlas.ai/funds/toy-ventures) — Series E
- Novo Capital (https://capitalatlas.ai/funds/novo-capital) — Series E