Nefta, a Web3 infrastructure startup focused on the gaming and entertainment industries, has raised $5 million in a seed funding round.
Play Ventures has taken a leading position in its funding round by donating $2.5 million, the platform said on Wednesday. Other investors participating in the round included important investment companies such as Polygon Ventures, SevenX Ventures, Sfermion and Picus Capital.
Nefta Reaches 32.5 Million Dollars Valuation
Nefta is currently valued at $32.5 million, Geeshan Willink, founder and CEO of Nefta platform, told The Block.
This represents a 225 percent jump in the Nefta platform’s valuation over the past eight months. Willink underlined that Nefta was worth $10 million when it raised $1 million in pre-seed funding from Picus Capital last June.
According to Willink, who said they contacted SevenX Ventures last October, Nefta later provided a prerequisite document from Play Ventures. Meeting with more investors after these developments, Nefta successfully completed its financing round in January.
Nefta was founded last year to provide tools to businesses that want to enter and grow in the Web3 space. These tools provided by Nefta include software development kits and white-label services to help businesses integrate digital assets, multi-chain wallets and private marketplaces.
Willink, CEO of the project, said: “We have seen great demand for our products in the last 12 months and we will continue to scale our offer accordingly.”
There are currently eight people working for Nefta, and Willink plans to double the number of employees in the near future. Nefta is currently recruiting in a variety of areas, including business development, account management, and technology.
Willink also said that as part of the deal with Play Ventures, Play Ventures’ general partner Kenrick Drijkoningen will join Nefta’s board of directors.
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