Allsaints Music Group is pleased to announce the completion of the Series B1 round financing in the amount of US $60 million. This round of financing is led by CMBI and OPPO with co-investors including Xiaomi and Hui Capital etc. Lighthouse Capital is the exclusive Financial Advisor to Allsaints Music Group on this transaction.
Allsaints Music Group was founded by veterans in the field of digital music and its vision is to build the global music artist platform using internet and blockchain technology beyond where it is today. Founder and CEO Yingbo Zhu was the founding CEO of China Telecom iMusic and also a founding member of ASPire Holdings; Co-Founder and Chief Content Officer, Gary Chen was the Founder/CEO of China first legal music platform Top100.cn and Google Music China; and he once served as a partner and Chief Content Officer of ChangBa Music Group.
Early strategic investors of Allsaints Music Group include the world’s leading mobile technology companies. The company has reached global strategic agreements with OPPO, vivo, and Xiaomi on streaming music services. Working with music industry partners, Allsaints Music Group can help music artists to reach billions of mobile phone users worldwide by integrating hardware, software, music content, mobile internet and blockchain technology.
Yingbo Zhu, CEO of Allsaints Music Group, said: “We welcome more talents to join us to help global artists and musicians to realize their dreams while standing on the shoulders of giants partners.”
Xinghai Zeng, Managing Director of CMBI, said: “We believe that music will be one of the best-applied scenarios of blockchain. The blockchain technology will help to reshape the music industry, help music content creators have more initiatives in the industrial value chain, and help the music business continue its phenomenal growth. We believe this is the biggest opportunity since the emergence of digital music. CMBI’s investments portfolio companies in blockchain technology sector will work with Allsaints Music Group very closely during this music industry transformation era. ”
