Jet Media Network raises $2.5 million in seed round led by Los Angeles Media Fund

By: |
November 09, 2021 11:03 AM

10X Capital, Gaingels, JetSynthesys, Spivy Private Capital and Equinox Systems also participated in the round

The company is working on the launch of its mobile app

Data-driven digital publishing company Jet Media Network has raised $2.5 million in its seed funding round, led by Los Angeles Media Fund. Other investors such as 10X Capital, Gaingels, JetSynthesys, Spivy Private Capital and Equinox Systems also participated in the round. The company has announced the fund-raising at a time when Jet Media Network is working on the launch of its first mobile app, in collaboration with former Brazil, Barcelona and AC Milan football player, Ronaldinho. As per an official statement, the platform will offer exclusive content, auctions, social media aggregation and e-commerce, with non-fungible tokens (NFTs) also among its capabilities.

“The investment demonstrates the shift in direction and change in appetite for celebrities to have greater ownership over their brand and content, and in essence, to become their own publisher. It also demonstrates the belief that Jet Media Network has the right technology, strategy, and leadership in place to succeed,” Jesper Schertiger, CEO and co-founder, Jet Media Network, said.

Jet Media Network is currently assembling a pipeline of high-profile athletes and celebrities. However, it wants to further expand its portfolio by adding musicians, actors, gamers, influencers, public figures. Its applications will be free for users but users with a monthly subscription will be able to access enhanced benefits.

The company wants to create a direct relationship between fans and talents where content is presented based on a user’s selection of various interest groups as opposed to algorithms that prioritise the platform over the celebrity and fan, it said in a statement. Moreover, it is aiming to build communities where talent can interact, and transact with fans across a full spectrum of offerings.

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