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Animoca Brands’ subsidiary Zeroth secures investment from Silver Egg Technology

Published: 17:11 18 Mar 2019 AEDT

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Animoca Brands acquired Zeroth in 2018

Animoca Brands Corporation Ltd’s (ASX:AB1) subsidiary Zeroth has secured an investment of about $0.71 million from the Hong Kong subsidiary of Silver Egg Technology (TYO:3961).

Silver Egg is a Japanese company with over 20 years of experience providing artificial intelligence (AI) based web marketing services.

It is one of the top recommendation Software as a Service (SaaS) providers in Japan, with 27% Japanese market share by sales volume in 2017.

Silver Egg recently released Prospector, an AI powered tool for outbound marketing that helps businesses target prospective customers based on their previous purchasing behaviours.

 

Zeroth, which was acquired by Animoca Brands last year, is Asia’s first accelerator program backing high-potential startups that are working on frontier technologies including AI, machine learning, and blockchain.

READ: Animoca Brands has an early lead in blockchain gaming boom

Zeroth provides operational, strategic, and networking support to investee companies as they develop their businesses.

It has accelerated three cohorts totalling 33 companies from 15 countries and is accelerating 30 more companies in the current Z04 cohort, obtaining around 6% equity in each accelerated company.

The new capital from Silver Egg will allow Zeroth to consider investments into a broader range of companies and allows additional fee generation.

READ: Animoca Brands secures $12.6 million contract; expands footprint into China

Silver Egg president and CEO Thomas Foley said: “I am profoundly impressed by the strategic potential of Zeroth’s startup partners.

“We are not only well-positioned to help bring their ambitions to fruition in the difficult-to-penetrate Japanese market, but by working together we can realize Animoca Brands’ strategic vision for unleashing the immense potential of AI and Blockchain worldwide.”

READ: Animoca Brands launches new mobile game based on Wonder Park film

Animoca co-founder and chairman Yat Siu said: “Following the partnership with Deepcore announced last November, we’re especially excited to secure Silver Egg as a key partner as we progress our work in AI and blockchain, and we will seek to deepen this relationship.

“We look forward to working together and leveraging the lucrative Japan market.”

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