In a recently closed funding round, the cryptocurrency organization Zebedee announced it had raised $35 million. This money will go towards developing the company’s Bitcoin-based payment systems for games. Additionally, Zebedee is hoping to change the gaming space by providing titles with new revenue streams powered by cryptocurrencies, blockchains, and other technologies.
Kingsway Capital led this most recent funding round. Other participants included The Raine Group and gaming giant Square Enix. Investments also came from existing backers like Lakestar and Initial Capital.
“We are pleased to be in a position where we can confidently scale our team and grow our business even as the macroeconomic backdrop becomes increasingly uncertain,” said Simon Cowell (not the one you’re thinking of), the CEO of Zebedee, in a statement. “This funding round gives us the ability to meet our highly ambitious roadmap both in terms of building out our infrastructure to support the hundreds of millions of users that play our partners’ games, as well as hire the top-level talent needed to ensure every partner has the best possible experience working with Zebedee.”
Founded in 2019, Zebedee is a gaming start-up company that aims to integrate cryptocurrencies and other types of blockchains into major video game titles. The organization is currently based out of Hoboken, New Jersey.