Web3 startup Gaspack has raised an undisclosed pre-seed funding round led by MDI Ventures’ angel investors network eMerge and Arise. Meanwhile, ARTOTEL Group has acquired hotel operator Milestone Pacific Hotel Group (MPHG).
Gaspack raises pre-seed funding
Gaspack, a Web3 technology startup, raised an undisclosed pre-seed funding round led by MDI Ventures’ angel investors network eMerge and Arise with support from 500 Global and Tokoin, the company said in a statement.
Gaspack will use the funding for its new Web3 digital comic publishing platform named Kometh, strengthening Gaspack’s capabilities to empower creators and brands. The company has also planned to acquire creators.
“Kometh was created to break the traditional barriers between the creative industry and creators. By placing creators at the forefront of our innovation, we enable them to create, share, and monetise their work like never before. On top of that, we elevate local creators to reach a global audience, from Singapore, Japan, South Korea, Hong Kong, and even the USA,” said Novrizal Pratama, CEO & co-founder of Gaspack.
Kometh is built on blockchain. It allows users to purchase the rights to read digital comics, own, collect, trade, sell, and gift to other users.
Gaspack has so far launched NFT projects with eight creators, generating gross transaction volume (GTV) of $12 million in a year. It has also launched an original comic titled “Garden Point” on Kometh that was selling quickly at 17,000 digital copies in 1.5 hours.
ARTOTEL Group buys Milestone Pacific Hotel Group
Indonesia-based hotel chain ARTOTEL Group announced the acquisition of hotel operator management PT Milestone Pacific Hotel Group (MPHG) targeting the middle-class market.
The company did not disclose the details of the transaction. Following the acquisition, however, ARTOTEL Group is officially managing more than 100 properties under different brands and has expanded its coverage from boutique hotels to luxury and economical accommodations as well.
MPHG has six brands, including Maxone, Nite & Day, Zia, Ruma Ruma, Marc, and One of a Kind with a total of 45 unit hotels located in second-tier cities in Indonesia.
Erastus Radjimin, Founder & CEO of ARTOTEL Group, said the company has prepared a strategy to boost revenues “by prioritising technology-based infrastructure so that hotel operations become efficient and effective for guest satisfaction, as well as expanding our hotel’s distribution network to increase the revenue of each hotel we manage.”
In 2020, ARTOTEL only managed 17 hotels and it also had to undertake a down round during the COVID-19 pandemic. The company’s rapid expansion and a promising hospitality market post-pandemic have led the company to plan its IPO sometime between 2024 and 2025.