Animoca Brands raises $3.5 million to expand portfolio and enter ebooks market

Brands the way

Animoca Brands raises $3.5 million to expand portfolio and enter ebooks market

Hong Kong-based Australian-listed mobile game publisher Animoca Brands (ASX:AB1) has raised around $3.5 million.

Financial services firm Pattersons Securities led the investment, with participation from Bell Potter, Koda Capital and Taylor Collison.

Animoca previously received a $2.3 million investment from Chinese publisher OurPalm, which has 11% stake in the company.

The funds will be used to expand its existing businesses, including its strategic partnership with Mattel.

However, it will also enter the ebooks market, although no further details about this were provided.

As well as Mattel, Animoca Brands has many IP licensing details including Paris Hilton, Mr Bean and Garfield.

Brand leverage

"We are extremely pleased with the strong interest received from investors through this placement, demonstrating confidence in our business model and strategy," commented CEO Robby Yung.

"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 is sellling solid growth in its game downloads

Animoca Brands recently announced its portfolio approach of releasing a lot of games, rather than focusing on few titles, had resulted in an increase of monthly downloads of 61%, while it expects annual revenue to rise 88% to $5.5 million (AUD$7.5 million).

Contributing Editor

A Pocket Gamer co-founder, Jon is Contributing Editor at which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.