Cryptocurrencies
Crypto Firm Animoca Locks In More Funding Even After KKR Backs Off
- The company closes $75 million second tranche in downturn
- Animoca plans to use the funds for acquistions, investments
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Animoca Brands, a crypto investor and game developer, completed another round of financing that left its mulitbillion-dollar valuation intact even after investment firm KKR decided not to take part.
The company said Tuesday that it raised about $75 million, adding on to a previously announced funding round in January. The funding implies a valuation of $5.9 billion for Animoca, about the same as the round at the beginning of the year. That’s notable at a time when the crypto market’s recent rout and series of crises have left other companies reeling. Animoca develops games such as The Sandbox and is an investor in more than 340 projects, including Axie Infinity, OpenSea and Dapper Labs.