Animoca Brands to acquire stake in leading AI accelerator Zeroth

1_d_7s7oTuuvirrnWRQ1S01Q

Animoca Brands has entered into an Earn-In Agreement with Zeroth founder Tak Lo to acquire a 67% stake in Venture Classic Limited, the operational company for the artificial intelligence accelerator Zeroth SPC (both companies together: “Zeroth”). Total consideration for the transaction is approximately US$1.08 million (A$1.5 million), consisting of US$0.72 million (A$1 million) in cash earn-in and approximately US$0.36 million (A$0.5 million) in Animoca Brands shares.

Additionally, Animoca Brands has committed to underwrite investment into Zeroth SPC totalling up US$2 million. This investment will provide participants with Limited Partner status and grant them claims on proceeds from the cohorts of AI and blockchain startups accelerated by Zeroth.

[Read more…]

Betatron wraps up Cohort 3 featuring 10 startups

Betatron Cohort 3 Demo Day

Earlier this month on Thursday 2nd August 2018, Betatron held its Demo Day for the ten startups in cohort 3. The event was held at the Hong Kong Stock Exchange with a total of 675 people registering for the event. During the event, each startup delivered a five-minute pitch showcasing their business and the traction they’ve been generating.

Sam Ameen – Betatron’s Director of Marketing commented, “We’re delighted to see the traction our ten startups have generated since they started cohort 3. It’s not surprising to see a significant amount of investor interest shown already for each team. It’s been exciting to see the Betatron program improving each cohort, with more investors, mentors, and experienced entrepreneurs joining our network to provide hands-on guidance and support for our startups. The plans for the next few cohorts are already underway, with the vision to take Betatron to the next level to support the Greater Bay Area’s entrepreneurial ecosystem.”

The ten startups in cohort 3 are:

You Only Think You Know China: The 2018 China Internet Report Will Blow Your Mind

Screen Shot 2018-07-18 at 6.00.44 PM

Exclusively launched at last week’s RISE conference in Hong Kong is the China Internet Report 2018.

China has twice as many internet users as the total population of the United States — and it’s growing fast. This unique collaboration between Abacus, 500 Startups, the South China Morning Post, will break down everything you need to know about China’s thriving tech industry, the big players in each field, and lay out the four overarching trends that have emerged.

The best thing about this? You can download it for free here.

You can watch them summarize this at RISE here.

Screen Shot 2018-07-18 at 5.17.58 PM