Animoca Brands raises $110 million in new funding round led by Temasek, plans for new acquisitions and products

Temasek is a Singapore-based global investment company, with a net portfolio value of $297 billion.
Animoca Brands raises $110 million in new funding round led by Temasek, plans for new acquisitions and products

Leading Web3 startup Animoca Brands has announced that it has raised $110 million in a funding round led by Temasek, GGV Capital, and Boyu Capital.

Animoca said that the new funding round was similar to its previous funding round, and existing investors True Global Ventures and Mirae Asset Management also took part in the round. 

The company raised over $75 million back in July. The new investors GGV, Temasek, and Boyu are expected to advise Animoca on various Business related issues including capital gains, according to the announcement.

The brand plans to use the new funds to continue making strategic acquisitions, developing new products, and securing licenses for intellectual properties. 

Animoca also plans to continue working with companies that are focused on building an open metaverse. The brand will also continue investing in Web3 games, alongside the popular Ethereum-based metaverse game – The Sandbox.

Animoca has invested in over 300 start-ups according to a report from Bloomberg, some of them prominent Web3 and NFT companies including Dapper Labs, OpenSea, Axie Infinity, and NBA Top Shot among others.

“Animoca has grown significantly as a company in the last year, and now our new investors will contribute strategic advice and perspective as we build the world’s leading company furthering property rights in the Web3 industry,” according to the Co-Founder and Executive Chairman Yat Siu.

The company has raised over $775 million across various funding rounds according to stats from Crunchbase, and the company currently has a valuation of $5 billion.

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Audu Buba
Audu Buba
Audu is a journalist passionate about blockchain technology, NFTs, and the metaverse.