AI accelerator Zeroth bags investment from digital media firm Animoca

Asia-based accelerator program Zeroth is getting a major infusion of capital after digital media company Animoca Brands agreed to invest over $3 million into its businesses. Animoca is listed on the ASX with a market cap of around $40 million. It is best known for its range of mobile games which include the Doraemon and Garfield brands but it has been pushing to broaden its focus into artificial intelligence, blockchain and more. The relationship is not new. Animoca previously invested US$1 million (A$1.39 million) in Hong Kong-based Zeroth last December, and now it is following up to take a majority stake in Zeroth's operational business and also joining its fund as an LP. According to an announcement, Animoca is paying up to US$1.08 million (A$1.5 million) for a 67 percent share of Venture Classic Limited -- Zeroth's operational business -- in addition to a $2 million commitment to Zeroth's fund, which it will join as an LP.