coindesk.com
Non-fungible token (NFT) scaling platform Immutable has raised $200 million in a Series C funding round led by Singapore state investment fund Temasek at a $2.5 billion valuation, according to a press release provided to CoinDesk. The funds will be used toward global expansion, including scaling Immutable Gaming Studio and M&A activities.
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Other participants in the round included Mirae Asset, ParaFi Capital, Declaration Partners and Tencent Holdings, among others.
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Immutable last raised money at a $410 million valuation last year, the company told Reuters, which was the first to report on the latest funding round. The $60 million Series B round closed in September.
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Sydney-based Immutable develops the popular NFT games “Gods Unchained” and “Guild of Guardians.” The company also created Immutable X, a layer 2 NFT infrastructure platform for businesses to build games, marketplaces and applications.
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Immutable plans to add 200 employees within the next 12 months, more than doubling the current 165 person team.
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NFT-related platforms have captured plenty of investment dollars and increasing valuations recently. In early January, NFT marketplace OpenSea raised $300 million at a $13.3 billion valuation. And soon after that, Autograph, the platform co-founded by National Football League star Tom Brady, raised $170 million in a Series B round co-led by Andreessen Horowitz (a16z) and Kleiner Perkins.
Read more: GameStop Taps Immutable X for NFT Marketplace, Launches $100M Gaming Fund