Reports confirm Cailu, a Chinese blockchain media firm, raised $10 million USD in a series A round funding led by one of the top VC firms in Singapore, GCBI Ventures. The blockchain firm aims to improve the media content sharing protocols on the internet using the funds raised.
The Series A round included a Singapore-based digital asset investment fund, Orka Capital, who have previously completed fundraising with GCBI Ventures.
The co-founder of Orka Capital, Zheng Jian Wei, spoke on the recent investment in Cailu praising the blockchain platform. He expects the new technology system to enable users to conduct businesses faster and more efficiently through development of a better and greater media platform. He further said,
“With the increasing proliferation and interest from both major institutions and the public in Blockchain technology, Cailu would be a great avenue to create awareness and dialogue between the two. This would lead to greater and faster advancement and adoption to usher in new and innovative tech to shape the way we conduct businesses in the future.”
Left to right: Cailu co-founder Li Xuan, GBCI Ventures CEO and co-founder Douglas Gan, and Orka Capital co-founder Zheng Jian Wei Credit: GCBI Ventures
Cailu Raises $10 Million In Series A Fundraising
The company reports confirm they have raised $10 million to oversee developments in technical aspects of the blockchain platform. The company deals with the processing of industry information and content socialization. Cailu blockchain also utilizes its CLC tokens as an incentive on the platform to drive up user adoption and ensure high quality content on the platform.
The fresh capital injection in Cailu is set to further research and development on blockchain immersion media (IM), the technical engineering experience, the blockchain ecosystem, CLC distributions, platform operations and overall development of the Cailu ecosystem.
GBCI Ventures CEO and co-founder Douglas Gan is excited on the partnership with Cailu as he expects it to be a vital organ in its $100 million plan to build a smart cities. He further says,
“Cailu, a sharing-based and a decentralized blockchain media platform, incentivize high-quality news and disincentivize low-quality content and even fake news; aims to become a major influencer on how blockchain can shape smart cities.”