Mobile Premier League, or MPL, is a skill-based gaming unicorn that has made a strategic move with its publishing arm, Blast. The Company has invested in Surat-based game development studio XSQUADS. This is the first investment for the publishing platform Blast, launched last week. The publishing platform discover innovative games from global and Indie studios across the world. It is set to be launched in India and grow the gaming ecosystem for India’s growing user base.
XSQUADS and the $10 million valuation
XSQUADS has raised $2 million in funding, with which gaming studio Blast is finalizing a 20 percent equity acquisition deal. XSQUADS is the brainchild of Jemesh Lakhani. Recently, it been in the news for their debut game ScarFall, a game from which inspiration drawn from this battleground roaming in real life. inspired by Indian locations like Mumbai and Andaman Nicobar Islands. Also, ScarFall’s unique gameplay provides survival, respawn able battles, and team deathmatch (TDM) in a mode, which is the crème de la crème of how games are categorized here.
This would put the studio in a better position in terms of leveraging the 75 million-player user base that MPL has in India, thereby spreading XSQUADS even further.
This engagement with MPL falls under the larger strategy of enabling independent gaming studios to scale in the Indian market. The importance of achieving that scaling both locally and globally lies in empowering developers.
Vision and Free-to-Play Focus at Blast
Launched by MPL last week, the ultimate objective of Blast is to offer a strong ecosystem for indie game developers and help the publishing and growth of their games in India. The platform has shown tremendous traction, more so with free-to-play GameDuell, which users in India have widely accepted. Considering prospects for free-to-play games, MPL has been actively investing in this area to enhance its gaming portfolio.
MPL’s Strategic Growth Amid Regulatory Challenges
In keeping with its larger strategy to expand its presence in the Indian gaming market, MPL has invested in XSQUADS. Over the last five years, MPL has purchased four startups-in Good Game Exchange, GameDuell, GamingMonk, and Crevise Technologies.
M-League, being the parent entity for MPL, has announced a whopping 22.2% operating revenue to the tune of ₹1,068 crore in FY24. Losses have compressed by 21% at ₹375 crore. The company had even managed to report a positive operating cash flow of ₹157 crore during the last fiscal year, thus indicating its resilience and good financial management.
One Step Forward towards a Brighter Future for India’s Gaming Industry
With its investment in XSQUADS, MPL is preparing the ground for India’s gaming industry as it becomes a haven for independent studios that need resources, exposure, and a trajectory to get there. The partnership underscores MPL’s leadership in shaping India’s gaming ecosystem, making innovative games like ScarFall come to millions of players and consolidating its leadership position in skill-based gaming.
It not only accelerates the growth curve of MPL but also tests the waters for potential partnership opportunities with established platforms and emerging gaming studios from India’s vibrant gaming landscape.
