OliveX is Animoca Brands’ subsidiary which focusses on developing and publishing AI-based products to improve users’ health and fitness

Animoca Brands Corporation Limited announced today that its Hong Kong-based subsidiary, OliveX Limited, has secured US$1 million funding from Alabaster and Antanas Guoga, who’s also known as “Tony G”.

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The company said it will use the funding to advance OliveX’s body motion AI initiatives and potentially do app acquisitions.

The investors are Alabaster, which is a startup investor focused on companies that it believes will have a global impact, and Antanas Guoga, a Lithuanian businessman and a member of the E.U. parliament, who’s also the co-founder of Lympo.

Along with the investment, Alabaster founder Sonny Vu will also be a chairman of OliveX.

OliveX was launched in March 2018. The company focusses on developing and publishing mobile apps powered by artificial intelligence (AI), that utilise gamification to improve the health, fitness, and engagement rates of users.

Its top fitness apps are 22 Pushups, Vora – Fasting Tracker, and Lympo Squat; the latter being the result of a partnership between Animoca Brands and leading blockchain fitness company Lympo.

Just in January 2019, Animoca Brands, OliveX, and Lympo announced “Squat for Crypto” initiative with the official launch of Lympo Squat, the AI-powered mobile app promoted by world-famous tennis player Caroline Wozniacki.

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To date, OliveX said it has accumulated over 1.4 million downloads. The company stated it will continue to evaluate funding options for OliveX to best facilitate the development and monetisation of OliveX’s suite of products, including looking at private and public equity modeling.
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Photo by Geert Pieters on Unsplash

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