Nefta raises $5M seed round to build web3 infrastructure
It is reported that Nefta, a web3 infrastructure start-up, announced to complete a seed round financing of US $5 million at a valuation of US $32.5 million. Pl…
It is reported that Nefta, a web3 infrastructure start-up, announced to complete a seed round financing of US $5 million at a valuation of US $32.5 million. Play Ventures led the investment with US $2.5 million, which is the largest single investment of its future fund. Other investors in this round of financing include Polygon Ventures, SevenX Ventures, Sfermion and Picus Capital.
Nefta announced the completion of $5 million seed round financing with a valuation of $32.5 million
Interpretation of the news:
Nefta, a start-up that provides infrastructure for web3, has completed a $5 million seed round of financing at a valuation of $32.5 million. The investment was led by Play Ventures, which contributed $2.5 million, the largest single investment of its future fund. Other investors in this round include Polygon Ventures, SevenX Ventures, Sfermion, and Picus Capital.
Nefta aims to solve the problems of creating decentralized applications (DApps) by providing a platform for developers to build on top of. The company’s infrastructure-as-a-service (IaaS) model allows developers to concentrate on creating apps using blockchain technology without needing to implement the technology themselves. Nefta plans to use the funding to continue developing its technology platform and expand its team.
Web3 is growing in popularity as the technology allows for greater decentralization and more secure transactions compared to traditional centralized systems. The technology is built on a decentralized network of nodes, which allows for greater security and resilience against hacking or manipulation. In addition, web3 networks offer increased transparency and privacy for users.
Play Ventures, the lead investor in Nefta’s seed round, is a venture capital firm that specializes in the gaming industry. The firm has previously invested in companies such as Discord and Hatch Entertainment. Play Ventures recognizes the importance of web3 infrastructure for the future of gaming and other industries, and believes that Nefta has the potential to become a leading player in this space.
Polygon Ventures, another investor in Nefta, is a subsidiary of Polygon, a network that provides scalable and secure blockchain solutions. SevenX Ventures focuses on early-stage investments in the fintech, blockchain and AI sectors. Sfermion is a venture capital firm that invests in early-stage deep tech companies, while Picus Capital is a European venture capital firm that focuses on investing in software and technology companies.
Overall, Nefta’s successful seed round financing is a positive sign for the growth of web3 infrastructure and the potential for decentralized applications. As more investors recognize the importance of web3 technology, it is likely that more start-ups will emerge to provide the necessary infrastructure to support this new paradigm.
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