Singapore-based collectibles maker Mighty Jaxx raises $20m led by East Ventures

Photo: Mighty Jaxx.

Singapore-based Mighty Jaxx, a startup that designs and manufactures phygital collectibles and lifestyle products, has raised $20 million in a Series A extension round led by East Ventures (Growth Fund).

Other new investors that participated in the financing include crypto fund Mirana Ventures, Easternwind International, Pan Solar Ventures, and Teja Ventures. Existing investors KB Investment and Korea Investment Partners also re-upped, the company said in a statement.

The latest funding brings Mighty Jaxx’s valuation to over $200 million, the statement added.

Mighty Jaxx, founded in 2012, has raised $34.8 million to date. The company had last raised $10 million in the first tranche of its series A round led by Chinese tech giant Tencent.

Mighty Jaxx said it will tap on East Ventures’ expertise in Southeast Asia to expand its presence in the region and create experiences that combine its physical products with digital elements.

The company added that it will work with Mirana Ventures to create experiences and products for the metaverse, 3D virtual worlds geared towards the gaming industry with the use of augmented reality gear.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter