Global venture accelerator Brinc announced the closing of its US$30 million in Series B funding round and a further US$100 million for startup investments, led by Hong Kong unicorn Animoca Brands, an investor in NFT-centric and Web 3.0 companies.
The fresh capital will be utilised to fuel Brinc’s global platform expansion across new locations and verticals – allowing more investors and corporate partners to leverage funds, accelerators and bespoke-deal sourcing to access high-quality investment opportunities and emerging technologies in food, health, energy, climate and deep tech.
In addition, the capital will enable Brinc’s expansion into Web 3.0 including the launch of new blockchain-focused accelerator programs across culture, music, art, collectibles, gaming, decentralized finance and data. Startups and corporates will also be supported in developing blockchain ventures to integrate sustainability, inclusion and equitability into their business models, the statement said.
Commenting on the development, Manav Gupta, founder and CEO of Brinc, said: “Web 3.0 technologies have the potential to democratise access to financial services and information, develop a more inclusive digital economy through aligned value capture mechanisms, and transform global business processes, just as the Internet did. Working with Animoca Brands to support leading companies in this space is an incredible opportunity, and underscores an increasing interest in utilising accelerators to access high-quality startup opportunities at scale.”
Yat Siu, the executive chairman and co-founder of Animoca Brands, said: “Brinc is the leading name in startup acceleration for emerging markets and technologies, and its sights are set firmly on the future and on sustainability. We share a common vision of an open future with blockchain adoption in traditional and growth sectors, and we look forward to the innovations that will emerge from its acceleration programs.”
Headquartered in Hong Kong, Brinc has grown significantly since its 2014 launch — it has invested in and supported the growth of more than 200 startups to date, and currently operates 18 multi-disciplinary acceleration programs across seven offices around the world, according to the company’s statement.
In 2020, founder Manav Gupta announced Brinc’s mission to invest in more than 1,000 startups that are developing solutions to combat climate change and build a more inclusive and equitable society within the next five years, a statement said.
