Lokesh Choudhary · · 2 min readAIOX invests in SG-based design studio XM Group
XM Studios / Photo Credit: Its Sisko
AIOX Apex Angel Fund (AIOX) has invested in XM Group, a Singapore-based global design studio specializing in the creation of handcrafted luxury art collectibles.
This round also attracted participation from some of XM Group’s existing institutional shareholders, including Heliconia Capital Management and ICH Capital.
Funding details
- Funding amount: Undisclosed
- Lead investors: AIOX Apex Angel Fund
- Other investors: Orchid 3 Investments, ICH capital, Darrell Lim, Magnus Keith
- Stage: Unspecified Stage
- Source
Founded in 2012 by brothers Ben Ang and Seng Ang, XM Group through its subsidiary XM Studios has produced collectibles for some of the most recognizable brands in pop culture, including Marvel, DC, and Transformers, as well as iconic Japanese characters such as Ultraman and Godzilla, the company said in a statement.
According to VentureCap Insights, which tracks regulatory filings in Singapore, AIOX has acquired a 68% stake in the Singaporean company.
Tech in Asia has reached out to XM Group for official confirmation.
“We believe that XM Group has great potential in the global IP market,” said Marc Lin, chairperson of AIOX Apex Angel Fund.
See also: SEA fintech sector hits funding slump in H1 23, but insurtech holds up
More details
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