Southeast Asian esports organisation Talon has secured $5m (~£3.7m) in equity capital during its Series A financing round.
The funding round, led by blockchain and NFT company Animoca Brands, will be used to develop digital and blockchain solutions for Talon fans. This includes delivering experiences, collectibles and opportunities via different metaverses, P2E games and NFT platforms.
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Additionally, Talon will further expand its regional footprint into SEA, focusing on the Philippines, Vietnam and Indonesia. As a result, the organisation has announced plans to compete in the biggest gaming titles for each respective country
Yat Siu, Executive Chairman and Co-founder of Animoca Brands, commented: “Talon is a great example of how the communities of esports and gaming are converging on blockchain and making use of NFTs. We look forward to working with Talon and the many companies in our investments portfolio in order to bridge these communities and take us one step closer to making the open metaverse a reality.”
This announcement is set to build on Talon’s reported quadrupled revenue since 2019 and strong social media growth. As of this writing, the organisation currently has competitive rosters in six major game titles across five markets within Asia Pacific.
With the capital raised, Talon will continue to grow its lifestyle and cultural platform which focuses on working with fashion labels, KOLs, musicians and traditional sports athletes.
Sean Zhang, CEO of Talon, added: “Together with our strategic partners and investors, I’m very excited to be entering the next chapter of Talon’s journey. We will continue to add to the trophy cabinet while building an entertainment and culture platform that will allow us to connect ever more deeply with our fans.
“We are also extremely excited to leverage cutting-edge technology alongside Animoca Brands to develop new ways to engage with fans.”
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Hana Digital Transformation Fund and HZL Capital also led the Series A financing round alongside Animoca Brands.
Other investors joining Talon include AK Partners, Token Bay Capital, Foxmont Capital Partners, Arete Capital Asia, BlackPine, Yieldly, PAC Capital amongst other family offices and individuals.
Esports Insider says: Talon’s Series A financing round seems to be successful as the organisation managed to secure strong investors and raise $5m (~£3.7m) in equity capital. Together with its partners, Talon is set to expand its reach in the local esports ecosystem and dip its toes in the trending scene of blockchain and NFTs alongside Animoca Brands.