Recently having raised $3.5 million, the Hong Kong- based Australian listed mobile game publisher Animoca Brands is looking to expand portfolio and enter the ebooks market.
The investment was led by Pattersons Securities, the financial services firm along with Taylor Collison, Bell Potter and Koda Capital.
The mobile gaming giant has also previously received an investment fund of $2.3 million by the Chinese publisher OurPalm in exchange for 11% stake of the company.
It has been said that the funds will contribute to expanding its current businesses which includes the strategic partnership with Mattel.
Furthermore, with limited details being provided, Animoca Brands will also enter the ebooks market.
Currently the company has many IP licensing details which include Mattel, Mr Bean, Garfield and Paris Hilton.
Robby Yung, the CEO of Animoca Brands said in a recent statement “We are extremely pleased with the strong interest received from investors through this placement, demonstrating confidence in our business model and strategy,”
He continued “The successful capital raise of AU$4.69 million is validation of our leading product offering and places the Company in a strong position to accelerate revenue growth and the roll out of its near term and longer term growth initiatives across a rapidly growing mobile gaming industry.”
Animoca Brands expects its annual revenue to reach a staggering $5.5 million USD, rising by 88%.