- Summary:
- Blockhain technologies company, Venly, has raised more than $ USD 23 million in Series A funding. We tell you how it will use the funds.
Venly, a leading Belgian blockchain technology company, has raised approximately €21 million (USD$23 million) in Series A fundraising. Venture capital firm Courtside Ventures took a leading role in the financing. Other contributors included Transcend Fund, Coinbase Ventures, Tioga Capital, High-Tech Gründerfonds, Fortino, Plug and Play, Leadblock Partners, Imec Istart, and Alpaca VC. The company plans to use the money to create new products that cater to the needs of Web3 consumers. Gaming and e-commerce, in particular, will get a lot more attention.
Gaming has been on a strong momentum, and Venly’s primary focus will be on gaming-specific platform integrations. It believes that by using a no-code solution that is fully compliant with Web3, game developers and publishers can reap the benefits of Web3. Also, the company is launching an accelerator program for game studios and Web3 firms as part of this effort. Additional benefits include reduced fees for Venly licenses and access to the Venly Accelerator team’s network of investors and partners. This will likely attract more startups to come to the platform.
Another key area will be extending and developing Venly’s marketplace to make it the preferred choice. As for eCommerce, it will be expanding its reach, building from its existing integration with Shopify. On the operational side, it will be launching the VENS token, an internal token that will be used to encourage user loyalty and participation.
“Our APIs and services allow a Web2 company to seamlessly integrate with Web3,” says Tim Dierckxsens, CEO of Venly. “Moreover, we want to focus on our marketplace for the mainstream users. “
About Venly
Venly (formerly known as Arkane Network) makes it easier for businesses, gaming platforms, and other organizations to integrate blockchain technology into their existing systems, such as digital wallets. Additionally, it supports NFT and several other features found in a crypto marketplace.