Non-fungible token (NFT) scaling platform Immutable has raised $200 million in a Series C funding round led by Singapore state investment fund Temasek at a $2.5 billion valuation, according to a press release provided to us. The funds will be used toward global expansion, including scaling Immutable Gaming Studio and M&A activities.
Other participants in the round included Mirae Asset, ParaFi Capital, Declaration Partners and Tencent Holdings, among others.
Immutable last raised money at a $410 million valuation last year, the company told us. The $60 million Series B round closed in September.
Sydney-based Immutable develops the popular NFT games “Gods Unchained” and “Guild of Guardians.” The company also created Immutable X, a layer 2 NFT infrastructure platform for businesses to build games, marketplaces and applications.
Immutable plans to add 200 employees within the next 12 months, more than doubling the current 165 person team.
NFT-related platforms have captured plenty of investment dollars and increasing valuations recently. In early January, NFT marketplace OpenSea raised $300 million at a $13.3 billion valuation. And soon after that, Autograph, the platform co-founded by National Football League star Tom Brady, raised $170 million in a Series B round co-led by Andreessen Horowitz (a16z) and Kleiner Perkins.