Amsterdam-based Authic Labs, an NFT marketplace for creators built on the Ethereum blockchain, announced on Tuesday, January 17, that it has raised funding in a pre-seed round from Rockstart and Graduate Entrepreneur. The amount of funding has not been disclosed.
Authic Labs says it will use the funds to scale its operations and tech team, and increase marketing and advertising campaigns while enhancing product offerings.
Lemar Bachtiar, co-founder and CFO of Authic Labs, says, “I am particularly proud of our team for the resilience they have shown during the fundraising process. It was tough at times, but we never gave up. We kept pushing forward, knowing that our ideas and passion would eventually win. We are excited to continue to push the boundaries of web3 technology and bring new, innovative solutions to the market.”
Authic Labs: What you need to know
Founded by Lemar Bachtiar, Tat Nguyen, and Wouter Kloosterman, Authic Labs aims to make Web3 accessible for all organisations and change how they engage with their clients.
The company creates what it calls “unique marketing experiences using NFTs.”
The Dutch marketplace offers a no-code platform, Authic Suites, for brands and organisations from various industries like art, fashion, gaming, or sports to create and sell digital collectibles on their website.
With FIAT payments like Credit Card/VISA, ApplePay, and iDEAL, KYC/AML integration tools, and easy-to-use wallets for storage, Authic Suite is making digital assets accessible to anyone.
Additionally, Authic Labs offers customisable design options and integrates various payment options besides the possibility to pay with cryptocurrencies.
Kloosterman says, “We believe that Web3 can only become accessible to everyone once we have made the technology behind it invisible”.
Graduate Entrepreneur: What you need to know
Graduate Entrepreneur is an initiative of a group of influential and merited alumni of Erasmus University Rotterdam, Erasmus MC, and the Delft University of Technology. The initiative was announced on April 8, 2021.
The fund is led by the Fund Management Team, consisting of Auke van den Hout, Angela Pellaupessy, Ludolf Stavenga, and Nienke Roef, who work together with a student team from Delft and Rotterdam. Besides funding, the alumni offer coaching and access to an extensive network.
The Graduate Entrepreneur Fund focuses on investments in companies that develop technologies that the universities of Delft and Rotterdam are known for, including medtech, logistics, and Artificial Intelligence (AI).
Rockstart: What you need to know
Rockstart is an early-stage investor that empowers founders across three domains – Energy, AgriFood, and Emerging Technologies.
The Dutch VC firm invests in early-stage ventures. It provides access to capital, market, and expertise by connecting founders with co-investors, mentors, partners, corporates, and the wider Rockstart network.
The company has invested in more than 280 ventures, and its alum value is more than $1B. The company has also invested in more than 60 agrifood and energy startups across Europe, Asia, and the US from its first two funds in 2019 and 2020, respectively.