Mighty Jaxx International, a Singapore-based startup that designs and manufactures collectibles and lifestyle products, raised $8.16 million from Tencent and South Korean investment firm KB Investment last week, according to DealStreetAsia – DATA VANTAGE.
The latest financing saw Mighty Jaxx’s share price nearly double from $34 in the previous round to $64.5 apiece. The company is valued at $60 million after the latest financing.
The startup had last announced raising S$4.5 million ($3.2 million) in April 2020 in a pre-Series A funding round led by KB Investment.
Top shareholders of Mighty Jaxx
Last week, Mighty Jaxx also appointed three new directors to its board – Chen Wanfeng, Tan Ban Cheok, and Wong Cui-Ting Melissa. According to her LinkedIn profile, Wong was promoted to the company’s chief operating officer position about two years ago.
The advent of 3D printing, brand promotion & marketing using licensed products, and the increasing demand for franchise movies and shows are three major trends impacting the collectible toy market globally.
The global toy market is expected to grow at a CAGR of 4% between 2019 and 2025 to touch $131 billion in value. Like board games, the global toy market received a boost due to the pandemic as children remained confined at home with no outdoor options for education and entertainment.
Other snippets from DATA VANTAGE
Singapore-based AI startup 6Estates secured $1.22 million in funding from Singapore-based venture capital firm Farquhar VC and SEEDS Capital, the investment arm of Enterprise Singapore, last week.
The firm was founded in 2014 as a spin-off of NExT, a joint research centre set up by the National University of Singapore (NUS) and Tsinghua University of China, focusing on cognitive data intelligence. It has raised $3.55 million in equity funding to date, according to DATA VANTAGE.
Digital commerce analytics startup DataWeave bagged nearly $3.1 million last week in a round led by Japanese adtech firm Freakout, which pumped in $1.5 million. Other investors in the round included WaterBridge Ventures, RSP Fund and NB Ventures.
Onstar Express, the holding company of Indonesia’s SiCepat Ekspres, received an additional $1.5 million from Speed Holdings last week. According to DATA VANTAGE, the Indonesian firm has secured $40.9 in equity funding so far this year.
SiCepat had announced a $170 million Series B round in March this year backed by Falcon House, Pavilion Capital and MDI Ventures.
Singapore-based iLex (Institutional Lending Exchange), which operates an electronic market and trading platform for corporate loans, raised an additional $1.35 million from existing backer IHS Markit Equity Investments, T&P Ventures and angel investors last week.
Healthtech startup Neuroglee Therapeutics added Mayo Clinic to its cap table last week. DATA VANTAGE subscribers can see the data about all its funding rounds, including share pricing, and investors.
Telemedicine startup Oncoshot received $586,854 from Lion City Capital Partners, SEEDS Capital and 53B Pte Ltd last week. Based on share pricing, the financing is likely to be part of the same round that saw it raise $851,403 last year.