{"id":95215,"date":"2024-08-28T00:00:00","date_gmt":"2024-08-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/"},"modified":"2024-08-28T00:00:00","modified_gmt":"2024-08-28T00:00:00","slug":"myco-secures-usd-10-mn-series-a-funding-from-multiple-investors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/08\/28\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/","title":{"rendered":"Myco secures USD 10 mn Series A funding from multiple investors"},"content":{"rendered":"

Dubai-based Web3 streaming platform <\/strong>myco<\/a><\/strong> secured USD 10 mn in the <\/strong>initial closing of its series A funding round<\/strong>, according to a press release<\/a>. The investment came from venture capital firms across MENA, North America, and Europe, including Daman Investments<\/a>, Aptos Labs<\/a>, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners, and Enjinstarter. Eighty-eight accredited investors also participated through investment platform Republic.com<\/a>, along with several angel investors.<\/p>\n

Where the money\u2019s going: <\/strong>After recent expansions into North America and Egypt, myco is exploring additional strategic growth regions and plans to finalize a second closing of its series A by early 2025.<\/p>\n

Myco recently partnered with <\/strong>Aptos Foundation<\/a><\/strong> to become its blockchain partner<\/strong>, and plans to relaunch its native token on the Aptos Blockchain in 4Q 2024. The startup also became profitable in the 2023-24 fiscal year, generating USD 7.5 mn in revenue. <\/p>\n

About the startup: <\/strong>Founded by Umair Masoom (LinkedIn<\/a>) and Somair Rizvi (LinkedIn<\/a>) in 2021, myco is a content streaming platform which offers live sports, films, documentaries, influencer videos, and user-generated content. <\/p>\n","protected":false},"excerpt":{"rendered":"

Myco is planning to expand in the MENA region and North America<\/p>\n","protected":false},"author":1,"featured_media":95216,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1548],"tags":[7,1363,1353,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam-uae","tag-myco","tag-startup","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"6e2de9bb-d356-4bea-aa63-5f85131a34f1","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2431.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Myco secures USD 10 mn Series A funding from multiple investors","related_issue":[95206],"teaser":"Myco is planning to expand in the MENA region and North America","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.d5e739bb-3506-4721-9d80-72c79d5effd2.mp3"},"yoast_head":"\nMyco secures USD 10 mn Series A funding from multiple investors - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/28\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Myco secures USD 10 mn Series A funding from multiple investors\" \/>\n<meta property=\"og:description\" content=\"Myco is planning to expand in the MENA region and North America\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/28\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-28T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2431.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/08\/28\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/08\/28\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Myco secures USD 10 mn Series A funding from multiple investors\",\"datePublished\":\"2024-08-28T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/08\/28\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/\"},\"wordCount\":185,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/08\/28\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2431.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM UAE\",\"Myco\",\"startup\",\"STARTUP WATCH\"],\"articleSection\":[\"STARTUP WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/08\/28\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/08\/28\/myco-secures-usd-10-mn-series-a-funding-from-multiple-investors\/\",\"name\":\"Myco secures USD 10 mn Series A funding from multiple investors - 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