UAE's myco Raises $10 Million in Series A Funding Round
The capital was raised at a post-money valuation of $80 million, with Daman Investments and Republic Crypto serving as key advisors.
UAE-based Web3 streaming platform myco has raised $10 million in the first closing of its Series A funding round. The investment came from a group of venture investors across MENA, North America, and Europe, including Daman Investments, Aptos Labs, and Mocha Ventures, among others. The funding round also saw participation from 88 accredited investors via Republic.com.[1]
The capital was raised at a post-money valuation of $80 million, with Daman Investments and Republic Crypto serving as key advisors.
Recently, myco announced a partnership with Aptos Foundation, which will involve relaunching its native utility token on the Aptos Blockchain and migrating its wallet infrastructure in the fourth quarter (Q4) of 2024.
myco's live streaming division has secured broadcasting rights for sports, including ICC and PSL Cricket Rights for Pakistan, English Premier League Rights for Pakistan, and various e-sports streaming rights in the MENA region. Following its expansion into North America and Egypt, myco plans to complete a second closing of its Series A by early 2025.
Established in 2015, myco is a content streaming platform with AVOD and SVOD capabilities that serves over 13 million registered users across 190 countries. The platform has seen over 1 billion impressions in 2023 and secured partnerships with over 100 brands and 50 global content channels.