Animoca Brands Raises $75M Funding Despite Slumping Markets
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Animoca Brands Raises Fresh Fundings
Amid the current market downturn, Animoca Brands has completed the second phase of a $75.3 million funding round from earlier this year, raising the company's valuation to $5.9 billion.
The investors in the round included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway, Cosmic Summit Investments, and others.
With the new funding, Animoca has raised $675.3 million to date. Previous investors include C Ventures, Delta Fund, Gemini Frontier Fund, Soros Fund Management, and Winklevoss Capital.
Animoca Brands vowed to use the fresh funding to hire more people, upgrade its products, as well as secure licenses for popular intellectual properties and advance the open metaverse.
Commenting on the development, Yat Siu, co-founder and executive chairman of Animoca Brands, said:
"We are deeply honoured to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and in the field of true digital ownership."
Animoca Brand's portfolio contains more than 150 NFT-related projects, including Play-to-Earn game Axie Infinity, blue-chip companies like Dapper Labs, and the largest NFT trading platform OpenSea. The company also has a majority stake in the metaverse game The Sandbox.