Mighty Jaxx, a Singapore toy collections firm, has raised $20 million in capital and is now valued at over $200 million.
Mighty Jaxx, a local toy collectibles firm, revealed today (March 7) that it has raised $20 million in Series A+ funding. This raises the company’s total capital to $34.8 million, valuing it at more than $200 million.
East Ventures, a Jakarta-based venture capital firm known for investing in tech businesses like Tokopedia, led the round, which also included new investors Mirana Ventures, Easternwind International, Pan Solar Ventures, and Teja Ventures.
Mighty Jaxx plans to use East Ventures’ Southeast Asian expertise to grow and enhance its immersive phygital experiences, which combine physical objects with digital places and aspects.
Mighty Jaxx will use the funds to expand the capabilities of its proprietary platform for tech-enabled collectibles, allowing it to create more immersive and dynamic phygital collectibles and content.
Mighty Jaxx will be building its extended reality and Web3 capabilities to bridge phygital collectibles and online, digital experiences as it places itself at the vanguard of the creative economy and the metaverse future.
“This funding is a watershed moment in the company’s history, and we are ecstatic.” As we tap into the immense market potential afforded by increasingly digitally informed consumers, we will be doubling down on our expansion and growth goals.
“In the very near future, we hope to introduce a new Mighty Jaxx experience to consumers all around the world,” stated Jackson Aw, founder and CEO of Mighty Jaxx.
Increasing our presence in Southeast Asia and the region’s talent pool
Founded in 2012, the company began as a one-person operation producing and delivering collectible toys, but has now expanded to include collaborations with major brands such as DC Comics and Marvel.
Since then, the company has created several distinct action figure lines and has begun to branch out into fintech with NFTs and tech-enabled collectibles.
Over the next 18 months, Mighty Jaxx plans to rapidly increase its global staff in the areas of technology, creative, and licensing.
The firm already has offices in London and Los Angeles, as well as a strong presence in Singapore and China. They’ll focus on scaling up important executive positions in the United States and Europe, as well as extending their presence in Southeast Asia and China.
“We expect more unique items and experiences to hit the market as the creative market becomes more democratized.”
Mighty Jaxx will be able to assist creators in exploiting growing interest in virtual ecosystems to deliver immersive experiences, bolstered by constantly updated and refreshed digital content, by using our synergies with investors and expanding our digital services. “The creator economy will enable the future of experiences to be phygital,” Aw added.