Mighty Jaxx, a future culture company that specialises in designing and producing physical-digital (phygital) collectibles, announced that it has secured US$20 million ($27.3 million) in its latest oversubscribed Series A+ funding round.
With this new funding, Mighty Jaxx’s valuation has reached to over US$200 million.
The funding round, fuelled by burgeoning interest in the phygital and metaverse future, was led by East Ventures (Growth Fund) and includes new strategic investor Mirana Ventures - the venture partner of Bybit and BitDAO.
Apart from monetary support, Mighty Jaxx will be leveraging on East Ventures’ expertise in Southeast Asia to further expand its presence in the region and sharpen its digital development expertise.
The funding will also allow Mighty Jaxx to further deepen the expertise of its proprietary platform for tech-enabled collectibles, strengthening its ability to develop immersive and interactive phygital collectibles and content.
With the metaverse and creator economy boom reaching the region, Mighty Jaxx intends to ride on that wave. It intends to develop its extended reality and Web3 capabilities to bridge phygital collectibles and online, digital experiences with the support of Mirana Ventures.
Easternwind International, Pan Solar Ventures and Teja Ventures are the other new investors participating in the round, while major investors from the previous rounds including KB Investment and Korea Investment Partners continue to participate and contribute towards the growth of Mighty Jaxx.
To date, Mighty Jaxx has raised US$34.8 million in funding from a global network of investors that also includes Greycroft, a New York-headquartered venture firm focused on the Internet and mobile, as well as Chinese internet giant Tencent.
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Jackson Aw, founder and CEO of Mighty Jaxx says, “This funding marks a significant moment in the company’s journey, and we are beyond excited. We will be doubling down on our expansion and growth plans as we tap on the tremendous market potential presented by increasingly digitally savvy consumers. We look forward to introducing a new Mighty Jaxx experience to consumers globally in the very near future.”
In a previous interview with Mighty Jaxx, Aw told The Edge Singapore that the company does not have any immediate plans for a public listing, but is intending to expand its presence in China, while reaching new markets, such as US, UK and other European countries.
