NFT startup Immutable, based in Australia has succeeded in raising USD 200 million in its Series C round which saw Temasek, Tencent, and Animoca Brands participating robustly. With this sealed deal, the valuation of Immutable has jumped to USD 2.5 billion.
Immutable was founded back in 2018, the founders being Robbie Ferguson, James Ferguson, and Alex Connolly. The main offering from Immutable is its platform named Immutable X which assists companies to build NFT trading services. Immutable X also is involved in developing and publishing NFT based games like Guild of guardians and Gods Unchained.
Immutable sent out a statement saying that its platform is capable of processing 9,000 transactions in a second with zero gas fees. Large companies like TikTok, Gamestop, OpenSea, and Veefriends are among Immutable’s prominent clients.
Alongside its announcement, Immutable has also named four brand new C-level hires. They are Gill Findlay of Airtree Ventures as COO, John Boris of IfOnly as Chief growth officer, Justin Hulog of Riot Games as chief studio officer, and Katherine Rau of Culture Amp as the chief people officer.
Immutable proposes to utilize these fresh funds for global expansion, further development of its platform Immutable X, upscaling its gaming segment, tapping new verticals, as well as exploration of M&A opportunities. Over the next year, it plans to hire 200 new people, which will add to its current headcount of 165 people.
There were other investors too in this round for Immutable which were ParaFi Capital, Princeville Capital, Arrington Capital, Mirae Asset, Liberty Global, King River Capital, Prosus Ventures, Airtree Ventures, Declaration Partners, Fabric Ventures, Possible Ventures, and Alameda Research.