PANONY, a leading web3-focused media and consulting firm, announced today that it has raised an undisclosed amount of Series A funding led by world-renowned crypto fund NGC Ventures.
The funding round will value the company at $100 million. The funds will be used to expand into other jurisdictions, introduce new service offerings and expand its networking capabilities.
The funding comes after the end of a memorable year for the blockchain and crypto industry.
Not only did global crypto adoption surge by over 800%, but important milestones were reached, including Coinbase’s listing and approval of the first bitcoin futures ETF, and concepts such as NFT, DAO, the Metaverse, and the web 3.0 began raising awareness of the technology to the mainstream.
Riding that wave, the company, co-founded by Forbes 30 Under 30 winners in the Media, Marketing and Advertising category, has taken a quantum leap in growth over the past year.
The startup quadrupled the number of companies and projects its consulting business services or incubates worldwide to over 100 in just its third year of existence.
Another important arm of PANONY, an award-winning media platform, PANews also showed excellent performance, including becoming an official news source of Tencent News, demonstrating its increasing influence in China’s mainstream media sector.
With an updated website and app, PANews has also assembled one of the industry’s largest readership communities in China and South Korea, the two main markets where PANONY operates alongside Hong Kong and the US.
The journey was not without treacherous currents. PANONY’s enterprising team, extensive Asia-focused expertise and strong adaptability contributed to its growth and caught the attention of investors.
“We are excited to lead this investment round and deepen our collaboration with Panony after years of working together.” Panony’s extensive experience in advising startups on marketing strategies, as well as excellent on-the-ground execution, will be a major asset to NGC Ventures’ portfolio . The strategic investment also demonstrates NGC Ventures’ commitment to providing the best support for our current and future portfolio companies.”
Tony Gu, founding partner of NGC Ventures, commented
Things looked very different when PANONY entered the scene in April 2018.
As one of the earliest blockchain-focused media and advisory firms of its kind in Asia, PANONY informed and educated enthusiasts, C-suites and entrepreneurs with much-needed, timely global news and original data-driven journalism, while advising ambitious companies making their way onto blockchain Market and growth strategies.
but Alyssa TsaiThe company’s founder and CEO believe that the market is still a nascent market and many gaps need to be filled.
“We are at an exciting time in blockchain and the broader internet world, where innovative ideas are popping up everywhere, incorporating new concepts and tools like NFT, DAO, and decentralized finance.”
“As the sector evolves, we see a more urgent need for professional and insightful service providers who can quickly adapt to the evolving landscape, while disrupting traditional marketing and consulting. Since its inception, PANONY’s goal has been to accelerate the mass adoption of new technologies. We are proud and excited to receive this funding to fuel our continued growth,” she said.
PANONY has a team of over 45 members and its investors include Continue Capital and Big Candle Capital.
Founded in April 2018, PANONY is an advisor, incubator and investor for blockchain and Web 3.0 companies with offices in Greater China, South Korea and the USA.
PANONY supports startups and Fortune 500 companies worldwide with effective go-to-market and growth strategies.
It also operates an award-winning blockchain and fintech-focused media platform, PANews, which produces original content with actionable insights for industry professionals.
The founders of PANONY are honorees of the Forbes 30 Under 30 Edition 2020.
About NGC Ventures
NGC Ventures is one of the largest crypto investment institutions in Asia with global portfolios. Founded in 2018, the fund is an early investor in many crypto projects such as Polkadot, Solana, and Avalanche.
It also just launched its Metaverse fund, which focuses on blockchain technology, Metaverse, and gaming infrastructure.
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