Blockchain startup Cailu raises $10M investment round

Chinese blockchain media company Cailu has received $10 million in pre-Series A funding for further development, Deal Street Asia writes. Smart-city oriented GBCI Ventures led the round, with participation from Singaporean hedge fund Orka Capital.

The platform was created last year. It offers industry information and content socialization; it also utilised CLC token to incentivise user adoption and provide content for the platform. 

With additional funding, Cailu is planning to engage in research and development of blockchain immersion media. It is also planning to continue working on the CLC ecosystem building, develop the platform further and launch partnership programs to build a blockchain ecosystem.

“Sharing is one of the characteristics of smart cities. Cailu, a sharing-based and a decentralized blockchain media platform, incentivise high-quality news and disincentivise low-quality content and even fake news; aims to become a major influencer on how blockchain can shape smart cities,” said GBCI Ventures CEO and co-founder Douglas Gan.