Squire Patton Boggs has advised Animoca Brands, the Hong Kong-based game software company and venture capital company, on a successful Series C funding round, raising US$41 million for investment in Berlin-based entertainment and game development studio Klang Games. Animoca Brands and Kingsway Capital co-led the fundraising round, with participation from Anthos, Novator, Supercell, Roosh Ventures, AngelHub, and New Life Ventures.
The team in Berlin advising Animoca was led by Corporate partner Kai Mertens assisted by associate Uwe Martin.
Founded in 2014, Animoca Brands is a global leader in gamification and blockchain with a large portfolio of over 340 investments, and with the mission to advance digital property rights and contribute to building the open metaverse. The company develops and publishes a broad portfolio of products including the REVV token and SAND token, original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes, and products utilizing popular intellectual properties.
Klang is an independent game development studio based in Berlin. Founded in 2013, Klang strives to develop long-term sustainable products by offering unique playing experiences, utilizing innovative technology, developing distinctive art styles and design, and building valuable communities. The US$41 million in funding will be used by Klang to nearly double its team and accelerate the development of Seed, its virtual world that allows players to self-govern and participate in a real player-driven economy in a vast, sandbox environment.
Kai Mertens commented, “We are delighted to have assisted Animoca on this investment, which generated significant capital for investment in Klang Games’ business and its innovative development of Seed and its player-built online universe.”