Blockchain accelerator facilitates raising of S$17m

Singapore

GOVERNMENT-backed blockchain accelerator Tribe has opened the door to S$16.8 million worth of funds for its inaugural cohort of 10 companies, through its ecosystem of corporate and investor partners.

Among the accelerator participants is Mighty Jaxx, a designer toy collectibles studio that on Tuesday announced a S$2.15 million pre-Series A round led by venture builder Eight Mercatus, with co-investment from SGInnovate. The funds will be used in part to further develop a blockchain-powered platform that will help collectors verify the authenticity of collectibles.