Hong Kong-based venture accelerator Brinc has closed a $30 million Series B fundraise and a further $100 million for startup investments. The operator of non-fungible token (NFT) games Animoca Brands led the round.
In addition to participating in the round, Animoca Brands will direct $100 million directly to Brinc-supported startups, acting as a venture fund.
Thus, the funds will go toward to finance development teams in the field of decentralized finance (DeFi); NFT, Web 3.0 and blockchain games. Since its launch in 2014, Brinc has supported more than 200 startups.
Currently, the company has opened offices in seven countries
Furthermore, the accelerator intends to expand its operations in China. As well as enter the markets of Japan, Korea, Singapore and India. Currently, the company has opened offices in seven countries, including Brazil.
According to the statement, this investment reinforces two companies growing partnership. Which began with the previous launch of the blockchain and NFT accelerator Launchpad Luna.
It stated that its first cohort is in the process of investing in 30 game-changing Web 3.0 companies. Along with assisting founders with tokenization, fundraising and product development.
A blockchain incubator focused on GameFi startups
In the beginning of December, Animoca Brands and the Binance Smart Chain team announced the launch of a blockchain incubator focused on GameFi startups.
Recall that in October, blockchain game developer raised $65 million at an estimate of $2.2 billion. Moreover, investors included Tron founder Justin Sun, Liberty City Ventures; Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings and others.
In the first nine months of 2021, the company generated revenue of $529.6 million on the back of the success of its gaming platform The Sandbox and other projects. Meanwhile, Animoca Brands CEO and co-founder Yat Siu stated that Brinc is the leading startup accelerator for emerging markets and technologies; with its sights firmly set on the future and sustainability.