Planetarium Labs, Singapore-based Web3 gaming startup, closes $32 million Series A

The Singapore-based Web3 gaming startup Planetarium Labs, focused on gaming, closed a Series A round of $32 million. It was led by NFT game developer Animoca Brands.

We are excited to announce that Planetarium Labs has closed its Series A with @animocabrands, Kakao/Krust, Wemade/@WemixNetwork, @SamsungNext to lay the groundwork for a generation of Web3 games powered and governed by the community.https://t.co/82QtzPoGHs

— Planetarium (@planetariumhq) July 7, 2022

Investors in the round also included Krust Universe, Kakao’s investment arm, the South Korean game developer WeMade and Samsung Next.

“Rather than simply adding play-to-earn elements or non-fungible tokens to games, we are rethinking community-focused content and giving studios tools to engage more deeply with their players and investors,” said Planetarium Labs co-founder Kidjun Seo in a comment to The Block.

Planetarium Labs plans to launch several games in collaboration with major Asia-Pacific gaming studios. It also aims to grow its team from 25 to 40 people.

According to Seo, representatives from Animoca Brands will join the startup’s board of directors.

Animoca Brands previously acquired the Grease Monkey Games studio for an undisclosed amount, and the Eden Games developer for $16 million.

Bank of America analysts noted investor interest in the industry and the Web-3 segment amid the crypto-winter.

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