myco, a UAE-based Web3 streaming platform, raised $10 million in a Series A round backed by Daman Investments, Aptos Labs, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners, and Enjinstarter, along with several angel investors and 88 investors through a crowdfunding platform.

Why it Matters? A media platform uses web3.

More to Know:

• Founded in 2021 by Umair Masoom and Somair Rizvi.
• myco offers a platform and an app to stream video based on web3.
• The funds came as the first closure of a Series A round valued at $20 million.
• The first closure increased the platform’s valuation to $80 million.
• myco has recently expanded into North America and Egypt and plans to use the funds to expand into further markets.
• The company said it was profitable this year.