IDO launchpad Enjinstarter announced today (January 20) it has received a US$3 million investment from True Global Ventures 4 Plus (TGV4 Plus).
This is part of the blockchain game launchpad’s ongoing US$5 million Series A fundraising round, of which TGV4 Plus is its lead investor.
The Series A round is targeted at “strategic equity investors who are investing in Web 3.0 and (the) gaming sector”.
The investment will be used to expand Enjinstarter’s existing operations and enter other complementary business verticals such as metaverse innovation consulting, game publishing and venture building.
“We are honoured to have TGV4 Plus lead our Series A round, and we have already experienced the immense support that has been provided by the partners leading the raise through advice and warm introductions to portfolio companies and partners from the ecosystem,” said Cheif Executive Officer and Co-founder of Enjinstarter Prakash Somosundram.
“As we embark on this journey to dominate the Web 3.0 space, we will need to stand on the shoulders of giants and TGV4 Plus brings that entire package together and walks the walk.”
Supporting blockchain games through tokens, NFTs
Launched in early October 2021, Enjinstarter is an IDO launchpad for Metaverse and Blockchain gaming projects. It has helped launch more than 30 projects and raised more than US$3 million via its platform.
Some notable projects that the launchpad has supported include Defina, The Killbox and PathDao. According to Enjinstarter, its projects have “delivered between 24 times to 53 times to investors from their public IDO price”.
Apart from issuing tokens, it helps game developers offer innovative ways to raise capital and fund their projects by selling virtual items such as NFTs.
The platform also offers an incubation program supported by an accredited partner network to provide projects with support for developing sustainable strategies and launching successful campaigns.
“We are at the start of what I believe is the tipping point where Metaverses, Play-to-earn and GameFi go mainstream, which is to have traditional fun gaming experiences plus the concepts of Finance & Fintech blended into a singular user experience,” said TGV4 Plus Partner Kelly Choo
“I believe that Enjinstarter is the right place and the right time to help companies who would like to build up their resources and communities as quickly as possible so that they can get to the right market quickly.”
Featured Image Credit: True Global Ventures & Enjinstarter
