Amsterdam-based Authic Labs, a company that specialises in creating no-code NFT marketplaces powered by Web3 technology, announced on Tuesday that it has raised fresh funding in a seed round. The funding amount has not been disclosed.
The round saw participation from Angelwise, Rockstart, Graduate Entrepreneur Fund, and SeedBlink.
Authic angel investor Jean-Pascal Duvieusart, former Senior Partner at McKinsey, says, “Authic’s innovative approach that allows companies to create flexible, secure and scalable loyalty programmes with Web3 technology makes them poised to disrupt traditional loyalty programmes and meet the evolving demands of a younger generation.”
“I would not be surprised if the technology developed by Authic finds additional use in fragmented ownership programmes,” adds Duvieusart.
Earlier in January 2023, Authic secured an undisclosed amount in its pre-seed round from Rockstart and Graduate Entrepreneur.
Authic Labs: Everything you need to know
Founded in 2021 by Wouter Kloosterman and Lemar Bachtiar, Authic Labs has created a no-code platform that can be adjusted to its customers’ specific needs, allowing them to establish their own markets and create ‘unique’ consumer experiences using digital collectibles.
The B2B SaaS provider claims to have become a leader in the field of Web3 solutions for consumer engagement and client loyalty through its B2B SaaS offering.
It has used blockchain technology to help its customers generate new income streams, create engaging loyalty programmes, and in engaging younger audiences.
Authic is also eager to keep investigating how NFTs and other Web3 technologies can transform how companies interact with their clients and followers.
According to the company, a continuous trend in the digital world is the incorporation of NFTs into traditional business strategies. NFTs have the potential to revolutionise a number of industries, including art, antiques, fashion, and real estate, thanks to their distinctive features.
Capital utilisation
Jan Vorstermans, Managing Partner at Angelwise, reports that the money will be used to help Authic Labs grow faster, attract more customers, as well as help create new products and services that will enable the company to stay up with developments in the Web3 space.
Michael Bjørnlund, Managing Partner Emerging Tech, Rockstart, says, “We invested in Authic because they have a talent for looking ahead, exploring Web3 and NFTs while making room for the next generation of users.”
“Their dedication to building unique and innovative experiences for their customers coupled with a commitment to transparency at every step of the supply chain means a digital marketplace that is accessible for all,” adds Bjørnlund.
Brief about the investors supporting Authic
SeedBlink is an equity management and tech-focused venture investment platform that allows European entrepreneurs and their stakeholders to access, manage, and exchange stock alongside established institutional investors.
Rockstart is a domain-focused accelerator VC firm that offers follow-on growth capital to help startups become successful across three domains: Energy, AgriFood and Emerging Technologies.
Rockstart also provides access to the market and expertise by connecting founders with co-investors, mentors, partners, corporates, and the wider Rockstart network. Since its inception in 2011, the firm has backed over 300 startups and its alumni value is over $1B.
Angelwise, an early-stage investment fund, aims to support startups and young firms in the next stage of their growth, particularly in collaboration with other early-stage funds or business angels.
Graduate Entrepreneur Fund is a €58M early-stage fund that collaborates with entrepreneurs from Delft and Rotterdam universities. It gives funding to its firms as well as counselling from a large network of experienced entrepreneurs and business executives.
