Animoca Brands Raises Further $75M, Nudging Valuation to $5.9B
The fundraise is the second tranche of January’s funding round, which raised almost $360 million and valued the investment company at $5.5 billion.
Non-fungible token (NFT) and metaverse investor Animoca Brands has raised a further $75 million at a valuation of $5.9 billion.
Existing investors Liberty City Ventures, 10T and Kingsway were among those participating.
The fundraise is the second tranche of the previous funding round in January, which raised almost $360 million and valued the company at $5.5 billion, doubling Animoca’s value in less than three months. The firm raised $65 million at a $2.2 billion valuation in October.
January’s raise was extended to accommodate due diligence processes, Animoca announced Tuesday.
Animoca Brands said it will to use the capital to fund acquisitions, investments and product development, as well as secure licenses for popular intellectual properties and advance the open metaverse.
The company’s portfolio contains more than 150 NFT-related projects, including play-to-earn game Axie Infinity, Dapper Labs, the company behind NBA Top Shot, and OpenSea, the largest NFT trading platform. It also has a majority stake in metaverse game The Sandbox.
The fundraise shows that despite the bearishness in the digital asset market, capital is still finding its way to the well-established firms in the industry.
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