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Animoca Brands raises US$88.88 million based on valuation of US$1 billion

The successful completion of the capital raising initiative has helped the NFT-centric company emerge as the tech industry’s newest unicorn.

RIT Capital Partners - Animoca Brands raises US$88.88 million based on valuation of US$1 billion
The funding is a strategic milestone that positions Animoca Brands for aggressive growth.

Animoca Brands has raised capital of US$88.88 million (around A$113.5 million) at a price of A$1.10 per share based on a valuation of US$1 billion (A$1.28 billion).

The company plans to use the new capital to fund acquisitions, new product development, to make strategic investments and secure additional licences for popular intellectual properties to cement Animoca Brands’ leadership and that of its various subsidiaries in the NFT and gaming spaces.

Importantly, the funding is a strategic milestone that positions Animoca Brands for aggressive growth as it continues to bring digital property rights to video gamers through the use of blockchain and non-fungible tokens (NFTs), enabling powerful benefits such as play-to-earn capabilities and digital asset interoperability.

Investors who participated in this capital raising initiative includes Kingsway Capital, RIT Capital Partners (formerly Rothschild Investment Trust), HashKey Fintech Investment Fund, AppWorks Fund, LCV Fund, Huobi, Octava, Ellerston Capital, Perennial, Axia Infinity Ventures, SNZ, Liberty City Ventures, Metapurse, and other prominent investors.

One of most valuable companies in NFT space

Animoca Brands chairman and co-founder Yat Siu said: “We are deeply honoured to have secured Kingsway, RIT, Hashkey, Huobi, Ellerston, Perennial and other strategic investors who share our vision for NFTs redefining equity and property rights online.

“This strategic capital raise firmly establishes Animoca Brands as one of the leading and most valuable companies in the NFT space, not just in Asia but globally.”

A leading force in the field of blockchain

Following the success of its blockchain game titles including F1 ® Delta Time, The Sandbox, and MotoGP™ Ignition, Animoca Brands has emerged as a leading force in the field of blockchain, NFTs, and games, having already made highly successful investments in Dapper Labs, Opensea, Bitski, Axie Infinity, and many others.

With the recent launch of the GAMEE, TOWER, and LMT tokens, Animoca Brands is trailblazing the use of blockchain-based in-game rewards, creating innovative new ways to monetize video games - a market estimated to be worth US$179.7 billion in 2020.

To commemorate the achievement of its unicorn status, Animoca Brands is issuing an NFT to investors, key partners, and supporters who helped make this moment possible.

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Animoca Brands achieves unicorn status with US$88.88 million capital raise

Animoca Brands CEO Robby Yung speaks to Proactive's Andrew Scott following its capital raise of US$88.88 million (around A$113.5 million). The company plans to use the new capital to fund acquisitions, new product development, to make strategic investments and secure additional licences for...

on 20/5/21

2 min read