PANews reported on May 23 that Singapore-based collectibles design company Mighty Jaxx secured an additional $11 million in the extension of its Series A+ funding round, according to Tech in Asia. In March 2022, the company raised $20 million at the close of the first round of Series A+ funding. With this latest injection, Mighty Jaxx has raised over $51 million to date.

Sunova Capital and East Ventures participated in the new round of funding. East Ventures led the first round, with investors such as Mirana Ventures, KB Investment, and Korea Investment Partners also participating. Although the valuation at the close of the first round exceeded $200 million, Mighty Jaxx did not disclose the final closing valuation. In addition to the UK, Mighty Jaxx has offices in China and the US, where it has been operating since its inception. The company plans to expand its operations in the US and Europe this year and use the new funds to support this growth.

Founded by Jackson Aw in 2012, the company collaborates with well-known companies such as Nickelodeon, Warner Bros., and Netflix to create limited-edition collectibles. The design studio's clients span 90 countries. The studio reported an increase in sales in the US, primarily driven by its best-selling One Piece merchandise, which is based on the popular anime series. Meanwhile, consumer demand in Europe has also shown a significant upward trend. After venturing into the NFT market with series like Inked Stories: Medusa, Mighty Jaxx is now focusing on blockchain infrastructure. This involves registering its collectibles on the blockchain. The company believes that by doing so, it will gain a better understanding of this niche market and create products that fans desire.

Previously, in August 2021, Mighty Jaxx completed a $10 million funding round led by Tencent.