Quick take:
- Rusk Media has secured $9.5 million in a Series A funding round.
- The fundraising was led by Seoul-based DAOL Investment and Audacity Ventures.
- Rusk is looking to extend the monetisation layers of Intellectual Property into Web3.
Rusk Media has completed a $9.5 million funding round led by Korean venture capital firm DAOL Investment and Audacity Ventures. The company said it will use the funds to extend monetisation layers of intellectual property (IP) into web3.
The Series A fundraising also attracted participation from existing investors, including InfoEdge Ventures (IEV), Mistry Ventures, and Survam Partners.
The Series A round brings Rusk’s total fundraisings to $12 million over the last three years.
Commenting on his company’s participation in the fundraiser, Chihoon Hyun, Partner at DAOL Investment and co-lead investor for the current round expressed confidence in Rusk’s competitiveness in IP creation across fiction, non-fiction, and e-sports entertainment.
“As investors from Korea, we have seen the immense potential of locally generated premium content and scalability of strong IPs. We believe Rusk is well positioned to become an entertainment powerhouse with their plans on their IPs and IP-led gaming platform,” Hyun said.
Kabir Kochhar, Managing Partner, Audacity Venture Capital commented: “Rusk has quickly grown to be the leader in capturing Gen Z culture through content. It is staying ahead of the curve by leveraging gaming and content to extend the monetisation layers of IP into the Web3 realm.”
Kochhar thinks Rusk’s intimate relationship with its consumers, which it has built through its innovative social gaming titles will be a huge befit to the entire Web3 gaming ecosystem, something that several blockchain games lack.
Rusk Media recently teamed up with NODWIN Gaming to launch one of its latest gaming entertainment IPs, Playground. The game was built with input from gaming entertainers CarryMinati, Triggered Insaan, ScoutOP and Mortal.
Audacity recently launched a $60 million fund to help web3 gaming startups transition into web3. The company is specifically focusing on early-stage startups from seed-Series A for chacks ranging from $500,000 to $5 million.
Rusk’s list of partnerships includes global fast food giants KFC and Indian conglomerate ITC Ltd. It also claims to have worked with the likes of Mondelez International, Perfetti Van Melle, and Jubilant FoodWorks among others.
Its hit gaming IP Playground has received 200 million views according to a Rusk.
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