Web3 Game Developer Xterio Attracts $40 Million

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Xterio, a Switzerland-based Web3 game publisher, has recently raised $40 million in a funding round led by FunPlus, venture capital firms Makers Fund and FTX Ventures, and gaming platform XPLA.

According to the company, other participants in the funding round in which the SAFT model was used to raise funds include Animoca Brands, HashKey, Foresight Ventures, Infinity Ventures Crypto and Matrix Partners.

Xterio co-founder Jeremy Horn has said that the startup’s valuation had reached $300 million following this latest funding round.

According to the company, the funds will be used to develop mobile and browser-based Web3 games, as well as to hire staff.

Xterio currently has 60 employees, including ex-managers from Electronic Arts and other well-known firms.