MPL's Mayhem Studios Secures Funding to Level Up Game Development in India
Mayhem Studios, the gaming arm of MPL, raises $20M to develop and launch new games for Indian market
11 April 2023
Mayhem Studios, the game development arm of MPL, secured $20 million in funding led by Sequoia India and Steadview Capital.
The funding will be used to expand Mayhem Studios’ game development capabilities and launch new games for the Indian market.
The investment demonstrates the growth potential of the Indian gaming industry and highlights the confidence of investors in its future development.
Mayhem Studios, which is the gaming division of Mobile Premier League (MPL), has raised $20 million in a funding round led byStudios, which is the gaming division of Mobile Premier League (MPL), has raised $20 million in a funding round led by Sequoia India and Steadview Capital. The funds raised will be used to expand Mayhem Studios’ game development capabilities and launch new games for the Indian market. MPL is one of India’s leading esports and mobile gaming platforms, with more than 80 million users across the country. Mayhem Studios, which was established in 2020, has emerged as one of the top game development studios in India, with its first game, Rogue Heist, being downloaded over 5 million times.
With the new funding, Mayhem Studios aims to develop more games in a variety of genres, including casual, mid-core, and hardcore games. The studio also intends to expand its team and hire more game developers, artists, and designers to support its growth.
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The Indian gaming market is rapidly expanding, with a projected value of $2.8 billion by 2022, according to a report by KPMG. Mayhem Studios is one of the many game development studios that have emerged in India in recent years. The funding round for Mayhem Studios reflects the potential of the Indian gaming industry and the confidence of investors in the sector's growth.
In conclusion, the latest funding round for Mayhem Studios highlights the potential of game development in India. With the new funding, Mayhem Studios plans to expand its game development capabilities and launch new games for the Indian market, which will contribute to the growth of the industry as a whole. We can expect to see more innovative and high-quality games coming out of India in the near future with the support of investors.