Hong Kong hardware accelerator Brinc raises $30M Series B
I’ve visited Brinc’s headquarters the last few times I’ve been to Hong Kong, and been impressed with the range of different startups the accelerator works with. I knew the organization primary through its consumer hardware companies — a primary focus when it was founded, back in 2014.
Brinc has expanded its scope a fair bit in the intervening years, with big focuses on things like food, health and deep tech. Seems it’s set to continue expanding its reach, going forward with eyes on categories like web3 and NFTs. Hong Kong-based Animoca Brands appears to be playing a big role in the move. Last year, the pair launched the blockchain/NFT acceleralator Launchpad Luna.
Animoca is also leading a $30 million Series B round for Brinc that finds the accelerator looking to expand its offering of programming, adding locations and hiring additional headcount. In a call with TechCrunch, Brinc co-founder and COO Bay McLaughlin pointed at a number of markets in Asia as targets for potential expansion, including Japan, Korea, Singapore and India, as well as added presence in China.
In November, the company also opened an office in Brazil — its first in Latin America. In all, Brinc currently sports seven offices, with people operating out of a total of 12 locations.
In addition to the $30 million, Animoca will also be investing $100 million directly into startups through Brinc, in a manner similar to a VC fund.
“Brinc is the leading name in startup acceleration for emerging markets and technologies, and its sights are set firmly on the future and on sustainability,” Animoca chairman and founder Yat Siu said in a release tied to the news. “We share a common vision of an open future with blockchain adoption in traditional and growth sectors, and we look forward to the innovations that will emerge from its acceleration programs.”