Enjinstarter, an IDO launchpad, has raised $3 million in funding and wants to grow its operations and enter other verticals.
Enjinstarter, an IDO startup accelerator, announced today (January 20) that True Global Ventures 4 Plus has invested $3 million in it (TGV4 Plus).
This is part of the ongoing US$5 million Series A fundraising round for the blockchain game launchpad, in which TGV4 Plus is the principal investor.
“Strategic equity investors who are investing in Web 3.0 and (the) gaming sector” are the target audience for the Series A financing.
Enjinstarter will use the funds to grow its current activities and enter new business verticals such as metaverse innovation consulting, game publishing, and venture capital.
“We are honored to have TGV4 Plus lead our Series A round, and we have already benefited from the tremendous support provided by the partners leading the raise through advice and warm introductions to portfolio companies and ecosystem partners,” said Enjinstarter’s Chief Executive Officer and Co-Founder Prakash Somosundram.
“We will need to stand on the shoulders of giants as we embark on our path to dominate the Web 3.0 sector, and TGV4 Plus brings that full package together and walks the walk.”
Tokens and NFTs are used to support blockchain games
Enjinstarter is an IDO launchpad for Metaverse and Blockchain game applications that was launched in early October 2021. It has assisted in the launch of over 30 projects and raised over $3 million through its platform.
Defina, The Killbox, and PathDao are just a few of the famous projects backed by the launchpad. Enjinstarter claims that its initiatives have “delivered between 24 and 53 times to investors from their public IDO pricing to investors.”
It assists game developers in offering creative ways to acquire funds and fund their projects by selling virtual items such as NFTs, in addition to issuing tokens.
The platform also offers an incubation program, which is backed by an accredited partner network, to help projects establish long-term strategies and conduct effective campaigns.
“We are at the beginning of what I feel will be the tipping point where Metaverses, Play-to-earn, and GameFi become widespread,” said TGV4 Plus Partner Kelly Choo, “which is to have traditional fun gaming experiences plus the concepts of Finance & Fintech mixed into a unique user experience.”
“I feel that Enjinstarter is the appropriate place at the right time to assist enterprises who want to fast build up their resources and communities in order to reach to the proper market.”
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