To grow its designer toys and collectibles biz, Mighty Jaxx raised US $10 M in a Tencent-led round
A source close to the company revealed that Mighty Jaxx, a Singapore-based online marketplace for designer toys and collectibles, had raised US$10 million (S$13.57 million) in a fresh round of investment sponsored by Tencent.
The round also included Korea Investment Partners and KB Investment, bringing Mighty Jaxx’s total financing received to $14.8 million.
DealStreetAsia was the first to report on the development.
The latest round follows the US$3.2 million MightyVerse, its platform for tech-enabled numbers, which was headed by KB Financial Group with participation from SGInnovate and GC VR Gaming Tracker Fund over a year ago.
Collectibles from MightyVerse (a Ubisoft incubator) may hold information and digital assets, making the experience more gamified.
Mighty Jaxx secured $1.6 million in pre-Series A funding in 2019, led by Eight Mercatus.
Mighty Jaxx, founded in 2012 by CEO Jackson Aw, is an urban culture firm that collaborates with worldwide talents and brands such as Warner Brothers, DC Comics, Looney Tunes, Sesame Street, and Casio G-Shock to develop and produce collectibles and lifestyle goods. It is developing an integrated platform to provide future pop-culture companies with an end-to-end collectibles supply chain, encompassing artist creation and incubation, proprietary IP management, and worldwide consumer access through innovative retail.
The firm claims to have sent millions of goods to more than 60 countries, with a wide range of collectibles, gaming, lifestyle, and fashion options.
Mighty Jaxx released Nubbies: Sesame Street, a hyper-casual game, in March to coincide with the introduction of a new collectible series of the same name.
Mighty Jaxx has also recently ventured into the world of non-fungible tokens (NFTs). NFTs are one-of-a-kind cryptographic tokens that can only be found on the Ethereum blockchain.
