Immutable, a non-fungible token (NFT) scaling platform, has raised $200 million in a $2.5 billion Series C funding round led by Singapore state investment firm Temasek. The funds will be used to develop international presence, including scaling Immutable Gaming Studio and seeking merger and acquisition opportunities.
Mirae Asset, ParaFi Capital, Declaration Partners, and Tencent Holdings were among the other investors in the round. The company informed Reuters, which was the first to report on the latest investment round, that it last received money at a $410 million valuation last year. In September, the $60 million Series B round came to an end.
Immutable, based in Sydney, is the studio behind the popular NFT games “Gods Unchained” and “Guild of Guardians.” Immutable X, a layer 2 NFT infrastructure platform for enterprises to construct games, markets, and applications, was also established by the company. Immutable intends to hire 200 people in the next 12 months, more than tripling its present workforce of 165.
Recently, NFT-related platforms have attracted a lot of funding and have seen their valuations rise. OpenSea, an NFT marketplace, secured $300 million in early January at a $13.3 billion valuation. Autograph, the platform co-founded by NFL quarterback Tom Brady, raised $170 million in a Series B financing headed by Andreessen Horowitz (a16z) and Kleiner Perkins not long after.
That’s all good happening with Immutable for now.