Venly Raises $23M to Scale Web3 Gaming and eCommerce Product Offerings

Leading blockchain technology provider Venly has raised $23 million in a Series A led by Courtside VC to expand its product offering on Web3 gaming and eCommerce.
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Quick take:

  • Venly has completed a $23 million funding round led by Courtside Ventures.
  • Transcend Fund, Coinbase Ventures, Plug and Play, Leadblock Partners, Powerhouse and Alpaca VC also participated in the Series A round.
  • The blockchain company plans to expand its offerings in Web3 gaming and eCommerce.

Blockchain technology provider Venly has announced the successful completion of a $23 million funding round led by Courtside Ventures. 

The Series A round also attracted the participation from Transcend Fund, Coinbase Ventures, Tioga Capital, High-Tech Gründerfonds, Fortino, Plug and Play, Leadblock Partners, Imec Istart, Powerhouse and Alpaca VC.

Venly plans to use the funds to expand its product offering across blockchain gaming and e-commerce. The crypto wallet service provider also said it will be expanding its team globally as it continues to scale operations across the world.

Venly provides Web2 brands with the technology required to bridge their services to Web3. The intuitive API platform also serves some of the leading brands in the world including The Sandbox, Aavegotchi, Bondly, Shopify. 

The company said it will also be launching an accelerator program for gaming studios and Web3 startups to support the entire blockchain ecosystem.

Venly plans to expand its gaming ecosystem integration by enabling game studios and publishers to leverage Web3 through a fully compliant no-code solution. It also plans to follow on its Shopify NFT integration with more e-commerce products and partnerships.

Commenting on the Series A funding, Tim Dierckxsens, CEO of Venly said: “The problem today is that most developers and end-users have difficulty interacting with Web3 technology. It needs to be more aligned with Web2 usability, which is exactly what the Venly platform provides. Our APIs and services allow a Web2 company to seamlessly integrate with Web3.” 

Dierckxsens also lauded his company’s NFT marketplace calling it the most user-friendly platform out there.

On the other hand, Kai Bond, Partner at Courtside Ventures pointed to Venly’s important role in helping game developers easily launch Web3 experiences.

“We believe that the next big growth in the NFT ecosystem will come from mainstream users interacting with their favourite IP,” Bond said.

Venly will focus on adding top talent to its team as it continues to spearhead innovation. The team is also looking forward to scaling its ecosystem by partnering with top industry players.

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