myco, a Web3 streaming platform founded by Pakistani entrepreneur Umair Masoom, has secured a successful Series A funding round of $10 million. This significant investment highlights the growing potential of Web3 technology and the innovative spirit of Pakistani founders on the global stage.
The funding round attracted a diverse group of investors, including Daman Investments, Aptos Labs, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners, and Enjinstarter.Additionally, 88 individual investors participated through the Republic.com platform, demonstrating widespread interest in myco’s vision.
myco intends to utilize the fresh capital to expand its operations and accelerate development efforts. The company aims to further establish itself as a leading player in the Web3 streaming space by offering a unique user experience.
The myco platform seamlessly integrates AVOD (advertising-based video on demand) and SVOD (subscription-based video on demand) functionalities within a decentralized environment. This innovative approach provides users with a diverse content library, from live sports and documentaries to influencer content and user-generated content. Currently, myco boasts over 1 million videos on its platform, catering to over 13 million registered users and 3 million monthly active users across 190 countries.
myco’s success extends beyond its user base. The platform is available on various platforms, including web browsers, Apple Store, Google Play Store, and Huawei App Gallery. It has delivered over 1 billion impressions in the past year and established partnerships with over 100 brands for advertising and over 50 global content channels.
This successful funding round opens doors for further growth and positions myco to revolutionize the way audiences access and consume content.
