Thirdweb recently closed its Series A funding round. The Web3 software development kit (SDK) firm raised 24 million USD, in the funding round led by Haun Ventures. After wrapping up the recent investments, the overall valuation of the firm reached upto 160 million.
Furqan Rydhan and entrepreneur Steven Barlett co-founded the toolkit. The collective aim was to serve the Web3 developers with the tools that would let them build and launch the products. Given the demand of Web3 products, the developers and creators need to go the extra mile to get the results in limited time. The toolkit is designed to simplify the process for developers during building of products.
Participants in 24 Mn USD Funding Round
Haun Ventures is Katie Haun’s venture capitalist initiative that funds the companies across the industries. Funding Thirdweb is their recent investment. Earlier Katie Haun was part of the well-known venture capital firm, Andreesen Horowitz. Other participants include the venture investment arm of the leading US crypto exchange Coinbase, Coinbase Ventures. E-commerce company Shopify also joined the funding round alongwith Protocol Labs, Shrug VC and billionaire investor Joseph Lacob.
Coinbase and Shopify already had prior reactions with Thirdweb. The crypto exchange partnered with the software development kit provider to help their NFT developers with Coinbase NFT. Shopify will also seek an integration with the company where the toolkit will be available to its customers exploring Web3 products.
Thirdweb raised around 5 million USD in its seed round funding. The investment round was participated by prominent investors like Mark Cuban and Gary Vaynerchuk.
Wide Range of Thirdweb’s Services
According to CEO Steven Barlett, around 80,000 Web3 developers used the toolkit for their projects till date. More than 150,000 smart contracts were deployed across six different blockchain networks using Thirdweb.
Currently the development toolkit makes the creation easy for developers to create different Web3 products like NFT, DAOs, blockchain games, marketplace etc. Thirdweb will use the funds for exploring further and providing a wide range of services to their users.
Source: https://www.thecoinrepublic.com/2022/08/25/thirdweb-raised-24-million-usd-in-haun-ventures-led-series-a-funding/