The Otherside development company Improbable will raise $111 million in a new funding round at a valuation of $3.36 billion

2022-10-03 22:23:37

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According to Chain Catcher, as reported by Decrypt, Improbable, the development company behind Yuga Labs' metaverse Otherside, is set to raise $111 million (£100 million) in a new funding round, with a valuation of $3.36 billion (£3 billion), up from a valuation of $2.8 billion (£2.5 billion) in 2018.

Improbable CEO Herman Narula revealed that the company's new technology can now support thousands of players interacting simultaneously and will focus on creating virtual worlds for popular Web3 companies like Yuga Labs.

Chain Catcher previously reported that blockchain gaming company Improbable announced in April this year that its new project M² completed $150 million in independent financing, led by a16z and the SoftBank Vision Fund, with a post-money valuation of $1 billion. (The Block)

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