Data-driven digital publishing company Jet Media Network has raised $2.5 million (about Rs 18.4 crore) in funding, led by Los Angeles Media Fund.
The seed round also saw participation from investors including 10X Capital, Gaingels, JetSynthesys, Spivy Private Capital, and Equinox Systems, a statement said.
The announcement comes as Jet Media Network prepares to launch its first mobile app, a collaboration with former Brazil, Barcelona, and AC Milan football (soccer) superstar, Ronaldinho. The platform will offer exclusive content, auctions, social media aggregation, and e-commerce, with non-fungible tokens (NFTs) also among its capabilities.
Jet Media Network continues to assemble a pipeline of high-profile athletes and celebrities, seeking to have more "ownership" of their fans and to capitalize on the creator economy with bespoke mobile destinations that create the ultimate direct-to-fan (DTF) experience, the statement said.
The applications will be free for users with an option for a monthly subscription to unlock enhanced benefits, it added.
Jet Media Network seeks to create communities where talent can attract, interact, and transact with fans across a full spectrum of offerings. The platform currently focuses on leading athletes but will expand its "world of icons" to include other celebrities, musicians, actors, gamers, influencers, public figures, and others.
"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 publisher. It also demonstrates the belief that Jet Media Network has the right technology, strategy, and leadership in place to succeed," Schertiger said.
(With inputs from PTI)
