Tay Tian Wen · · 2 min readSaison Capital backs SG Web3 media startup’s $2m pre-seed round
Avium, a Singapore-based Web3 media startup, has raised an oversubscribed US$2 million pre-seed round led by Saison Capital.
Co-founder Ivan Yeo told Tech in Asia that the funds will be used to “build the company’s brand and intellectual property” by funding the cost of creating original content, publishing stories in the media, and “establishing a content creator network and presence in esports.”
From left: Avium founding member Eugene Yap, co-founder Ivan Yeo, and co-founder Nathanael Lim / Image Credit: Avium
Other investors who participated in the round include East Ventures, Mirana Ventures, and Hepmil Media Group, as well as Quest Ventures partner and former WarnerMedia Asia Pacific president Ricky Ow.
Founded earlier this year, Avium gathers creators and artists to create and produce animated content developed by SEA-based studios that have worked for organizations such as Marvel Comics, Valve, Netflix, Prime Video, and Tencent.
The company covers the development of original studio entertainment, the creation of media and consumer products, and media network distribution.
Tying Avium’s ecosystem together is its Founders’ Pass NFT collection, which launched in early August. Holders are granted exclusive access to building the Avium brand together with the founding team, as well as the rights to build with studios and producers which are ecosystem partners.
Avium was established by Yeo alongside Nathanael Lim. Yeo previously founded Evos, one of the largest esports organizations in Southeast Asia, having over 100 million followers across its talent network. Meanwhile, Lim is a blockchain lawyer for global firms including Huobi, Binance, Facebook, and Razer.
The company’s launch marks Yeo’s return to the media and entertainment industry after being diagnosed with a debilitating illness two years ago.
Avium’s fundraise comes as media and entertainment heavyweights ramp up Web3 investments. Earlier this year, Line Games investment arm Nerdystar secured US$5.8 million for its blockchain gaming platform Luxon, while Japanese gamemaker Akatsuki launched a US$20 million fund to back Web3 projects in Asia.
See also: How this rarest of crypto startups is shrugging off winter
Editing by Miguel Cordon and Lorenzo Kyle Subido
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