Mobile and e-books publisher Animoca Brands had raised $4.5 million through an over-subscribed share placement.

The Hong Kong-floated publisher raised the sum through a placement of 90 million fully paid ordinary shares to investors at an issue price of $0.05 per share.

The funds will be used to push blockchain focused initiatives, content development, marketing, AI-related investment and potential acquisitions.

The investment was led by Animoca Brands co-founder Yat Siu and recently appointed director Holly Liu. Strategic blockchain partners and strategic advisor Wilhelm Taht also participated.

Partner up

Animoca Brands has also revealed that it has entered into a partnership with consumer electronics company HTC.

As part of the agreement the two will explore opportunities for business collaboration.

This includes product development and joint collaboration in areas such as games, blockchain, artificial intelligence, machine learning, augmented reality and virtual reality.