Immutable, a Sydney-based gaming Startup, announced the news of closing $82 million in its Series B funding round. According to the founders, this fund is necessary for Immutable to reach its next stage.
The management of Immutable says the fund generated in this round would be directed towards three major plans. The first is the global expansion of the Immutable teams, with laser focus on Sales and Engineering. However, the Startup didn’t disclose much about how it’s going to achieve this.
Secondly, Immutable wants to use some parts of to strengthen its network and partnerships within and outside the ecosystem. But more importantly, the Startup wants to bond more with other gaming-inclined companies.
The third plan of Immutable with this fund is to scale its products. The spokesmen of the Startup commented that they would want these products to gain more acceptance and go more global. Immutable is popular for having two games – Gods of Guardians coupled with Gods Unchained.
The Ferguson brothers founded Immutable in 2018 to disrupt the gaming industry with block chain technology – NFT marketplaces specifically. It grants game players in-game items. Just a year after its founding, in 2019, theStartup raised $15 million in its Series A funding round.
“We want businesses to create their game, marketplace, or NFT application within hours via APIs, with a mainstream user experience. No blockchain programming required,” says Robbie Ferguson who is a co-founder.
Having said that, BITKRAFT Ventures and King River Capital pioneered this round alongside some investors likeFTX, Apex Capital, Prosus Ventures, AirTree Ventures and a few others.