Hong Kong-based brandtech company Gusto Collective has raised $11 million in its seed-plus round of financing to power companies with immersive customer experiences based on advanced technologies like augmented reality and virtual reality, the startup announced on Thursday.
Metaverse gaming firm Animoca Brands and Gaw Capital Partners, a Hong Kong-based real estate private equity company, co-led the investment. The oversubscribed round also attracted participation from BlackPine, YCI Limited, and several existing shareholders including ClearVue Partners.
With the completion of the deal, Gusto Collective has raised $23 million in total external financing since its inception in 2020.
Founded by advertising and branding veteran Aaron Lau, the startup seeks to combine immersive technology with marketing and branding.
The fresh capital will support Gusto Collective’s geographic expansion into other parts of Asia. The startup will also invest in its Web 3.0 services and products and develop new products to generate recurring revenue.
In March, the startup appointed Jeff Zielinski, a former executive at companies like Dymon Asia Capital and Goldman Sachs, to serve as its CFO.
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DealStreetAsia has also put together a table listing all prominent venture capital transactions in the Greater China region from May 7-10, 2022.
