Sydney-based crypto platform Immutable has soared to a $3.5 billion valuation after closing a $280 million funding round, led by Singaporean sovereign fund Temasek, with money from gaming star Animoca Brands and Chinese tech and video gaming giant Tencent.
The funding round comes just six months after Immutable raised $82 million and also includes investments from local venture capital firms AirTree Ventures and King River Capital, which both have dedicated web3 investment funds.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com