Former SCMP CEO’s Web3 startup Terminal 3 raises pre-seed funding

Terminal 3, a Hong Kong-based Web3 startup, has raised undisclosed pre-seed funding. 

The investors include 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, Bored Room Ventures, and Mozaik Capital.

Terminal 3 was founded by Gary Liu alongside his partners Malcolm Ong (CPO) and Joey Liu (COO).

Terminal 3 aims to replace centralised data storage that deprives users of privacy and saddles enterprises with compliance and security issues and associated costs. It leverages decentralised storage and zero-knowledge proofs to empower an equitable Web3, where user data is freely composable while remaining fully private and secure.

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“The continued growth in blockchain allows us to reimagine digital data ownership and security,” said Gary Liu, CEO of Terminal 3. “We believe that data should flow freely between applications to drive innovation and improve user experience, but not at the expense of personal privacy and control.”

The three co-founders previously worked together at the South China Morning Post, where they led the newspaper’s digital transformation. Gary was the Post’s CEO, while Malcolm and Joey were SVP of Product and Head of Strategy, respectively.

Ong was also the co-founder and CTO of Skillshare, an online learning community for creativity, while Gary and Joey co-founded Artifact Labs, a Web3 startup backed by Blue Pool Capital and Animoca Brands. Gary is also the Founding Chair of Web3 Harbour, an association in Hong Kong serving Web3 builders, investors, users, and leaders.

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