Educational technology startup TinyTap, a subsidiary of Animoca Brands, has raised $8.5m in funding for staff expansion and product development. The company offers a platform for user-generated educational content and has incorporated blockchain technology into its services, including more tokenized content via non-fungible token collections. Animoca paid $38.8m in June 2022 for an 80.45% stake in TinyTap. The funding round was backed by Sequoia China, Shima Capital, Polygon, Liberty City Ventures, Kingsway Capital, and GameFi Ventures. The startup raised its latest round as venture capital investments became harder to come by, as investors pulled back amid a higher interest rate environment and looming recession.
(By Morgan Chittum)
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