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MPL's unit Mayhem Studios raises $20-M from Sequoia, Steadview, others

Economic Times  

Mayhem Studios, the mobile game development studio launched by Bengaluru-based e-sports and online gaming unicorn Mobile Premier League (MPL) last year, has raised USD 20 million in its Series A round led by Sequoia Capital with participation from Steadview Capital, Truecaller, and others. Bing Gordon, chief product officer at US-based venture capital firm Kleiner Perkins, participated in the round in his personal capacity. Mayhem Studios was launched to develop AAA mobile games, which are video game titles with big development and marketing budgets. The studio launched its first gaming title Underworld Gang Wars – a battle royale game – shortly after its launch in May 2022. MPL last raised around USD 150 million at a valuation of USD 2.3 Billion back in September 2021. The company also forayed into web3 gaming and launched non-fungible token (NFT) marketplace Good Game Exchange (GGX) last month to tap into the play-to-earn gaming sector.