MPL’s game development unit Mayhem Studios raises $20M from Sequoia, Truecaller, and others
The funds will be used by the company to ramp up its capabilities and develop new gaming titles in India.
Tuesday April 11, 2023,
2 min Read
Mayhem Studios, a mobile game development studio launched by Bengaluru-based esports and online gaming unicorn, has reportedly raised $20 million in a Series A round led by Sequoia Capital. The round also saw participation from Steadview Capital, Truecaller and others, according to a report in The Economic Times.
Bing Gordon, Chief Product Officer at US-based venture capital firm Kleiner Perkins, too participated in the round in his personal capacity.
The funds will be used by the company to ramp up its capabilities and develop new gaming titles in India, said the report.
According to sources, this development was shared with the employees of the mobile game development studio at a recent town hall meeting.
YourStory could not independently verify this development.
Sequoia Capital, which has led Mayhem Studios’ maiden external funding round, is also an investor in MPL. The gaming studio is a subsidiary of MPL, which offers fantasy sports, casual games, and real money games on its platform.
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 last year.
In 2019, MPL had acquired Pune-based product engineering consultancy firm Crevise Technologies in a combination of cash and equity deal.
Edited by Swetha Kannan