In the latest series C funding round, Immutable an NFT startup, led by Singapore’s Temasek raised $200 million, thereby placing the company’s market value at $2.5B.
Founded by brothers Robbie and James Ferguson in 2018, the latest round of funding saw investments from Mirae Asset, ParaFi Capital, Declaration Partners and Tencent Holdings, among others.
The company intends to use these funds for global expansion and increasing its workforce.
The company previously raised a funding of $60 million in the Series B funding round, at a valuation of $410 million.
Immutable is the developer and publisher of NFT games such as ‘God Unchained’ and ‘Guild Of Guardians’, games with concepts of trading through NFT cards and earnable rewards.
Immutable is also the developer of the Immutable X platform, an NFT-focused layer 2 scaling platform on Ethereum for businesses to build games, marketplaces and applications.
Some of the businesses using the Immutable X platform are Tiktok, GameStop, Opensea, Illuvium and GreenPark Sports. A month ago, GameStop and Immutable worked out a $100 million collaboration deal to launch an NFT marketplace.
To aid their rapid expansion plans, Immutable also onboarded four new executives including Gill Findlay as COO and John Boris as CGO.
