A $2 million US pre-seed round led by Saison Capital has been secured by Singapore-based Web3 media firm Avium.
In addition to Ricky Ow, a partner at Quest Ventures and a former president of WarnerMedia Asia Pacific, other investors that took part in the round included East Ventures, Mirana Ventures, and Hepmil Media Group.
Avium, which was established earlier this year, brings together creators and artists to develop and produce animated content for companies like Marvel Comics, Valve, Netflix, Prime Video, and Tencent. The studios are headquartered in Southeast Asia.
The business develops original studio entertainment and produces media, consumer goods, and media network distribution.
The Founders’ Pass NFT collection from Avium, which debuted in the first week of August, binds the ecosystem together. Holders are given unique access to developing the Avium brand with the founding team and are also given the chance to develop with producers and studios that are ecosystem partners.
Together with Nathanael Lim, Yeo founded Avium. Yeo previously created Evos, one of Southeast Asia’s biggest esports companies with over 100 million fans throughout its talent network. For multinational companies including Huobi, Binance, Facebook, and Razer, Lim works as a blockchain attorney.
Yeo’s return to the media and entertainment sector following a two-year sickness diagnosis is marked by the establishment of the firm.
The funding for Avium comes as major players in the media and entertainment increase their Web3 initiatives. Earlier this year, Japanese game developer Akatsuki unveiled a US $20 million fund to support Web3 ventures in Asia, while Line Games investment arm Nerdystar raised $5.8 million for its blockchain gaming platform Luxon.
