$10 million raised in funding round for blockchain media startup Cailu

08 Jul, 2019
by Colin Hawkins
$10 million raised in funding round for blockchain media startup Cailu

Blockchain media company Cailu has received $10 million for further development in a pre-series A funding round, according to the Deal Street Asia publication, July 5.

The Chinese blockchain media company Cailu, which had its inception last year, is setting out to offer industry information and content socialization. To help further adoption and add content for the platform they utilized their CLC token.

The $10 million raised in the pre-series A funding round was led by GBCI Ventures and the Singaporean hedge fund Orka Capital. With this additional funding Cailu is planning to further develop blockchain immersion media, as well as continuing to progress the CLC ecosystem. They also plan to launch partnership programs to build a blockchain ecosystem.

The smart city oriented GBCI Ventures CEO, Douglas Gan, spoke on the idea of investing in Cailu:

“Sharing is one of the characteristics of smart cities. Cailu, a sharing-based and a decentralized blockchain media platform, incentivise high-quality news and disincentivise low-quality content and even fake news; aims to become a major influencer on how blockchain can shape smart cities.”

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Read more about: Blockchain China

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