MIGHTY Jaxx, a designer toy collectibles studio based in Singapore, has raised S$2.15 million in a pre-Series A round led by venture builder Eight Mercatus, with co-investment from SGInnovate.
The funds will be used for Mighty Jaxx's global expansion and development of its proprietary technology platform. The blockchain-powered platform leverages the GovTech OpenCert platform to issue and validate unique tamper-resistant and permanent certificates to every collectible, allowing collectors to verify its provenance.
Mighty Jaxx was founded in 2012 and has since shipped millions of products to over 50 countries with offerings in collectibles, gaming, lifestyle and fashion.
The firm has partnered with renowned pop culture artists and brands such as Warner Brothers, DC Comics, Looney Tunes, Sesame Street, Casio G-Shock. It also been working to expand its global presence by collaborating with dance crews, music labels and prominent artistes.
Joanna Soh, managing director of Eight Mercatus, will join Mighty Jaxx's board of directors. Eight Mercatus is an innovation growth platform which brings together a community of glocal entrepreneurs and helps startups scale quickly.
"Mighty Jaxx has rapidly developed a leadership position in the fast-growing collectibles market...We are excited to be working together to solidify and grow a global market leader out of Singapore, and Mighty Jaxx is a great example of a founder-led, innovative business that we like to invest in," said Ms Soh.
Jackson Aw, founder and chief executive of Mighty Jaxx, said: “As an industry we are only just scratching the surface of how powerful harnessing technology can be when combined with the massive scale and transactions offered by our global fanbase to scale our growth."