Notifi announces $2.5M pre-seed round
Notifi Network, Inc, a messaging layer for Web3, announced a $2.5 million pre-seed round to create and build communication infrastructure for all decentralized applications on blockchain platforms, CoinJournal learned from a press release.
The funding round was led by Hashed and Race Capital. The funding announcement comes in preparation for the Notifi Beta.
Notifi simplifies communication across Web3 channels
Its platform is designed with simple APIs for easy integration and customization for advanced features for dApps and Web3 applications. It empowers developers to improve their engagement with users via multichannel communications.
Paul Kim, founder and CEO of Notifi Network commented:
I am building Notifi to be the Twilio and the de facto messaging protocol for blockchain so we can help developers and projects to start building long-term relationships with their users. The future of web3 depends on helping the community and new projects to be customer-obsessed. Our focus will be to empower developers so they can focus on their customers.
Paul Kim was previously Director of Product at Circle, where he launched Circle Yield, and Director of Product at Oracle Cloud Infrastructure. Nimesh Amin, who will serve as CTO, comes from search and cloud infrastructure at Oracle too.
Baek Kim, General Partner of Hashed said:
Web3 communication infrastructure does not really exist. Third-party applications like Discord and Twitter are not enough. With almost $70 billion total valued locked on Defi and $6.1 billion transacted on NFTs it’s crazy that there are no real communication layers to support these ecosystems. We at Hashed believe that we need to solve this now, and help the next wave of users crossover.
Chris McCann, a General Partner of Race Capital added:
Paul Kim and Nimesh Amin started their careers at Amazon Web Services and Oracle Cloud Infrastructure. They are frustrated by the lack of enterprise-grade notifications for Web3. Given their skill sets and expertise in the communication technology stack, I believe Paul and Nimesh will redefine how Web3 communications work. I am excited to back the “Twilio” for Web3.
The funds raised in this round will go towards team and infrastructure development. Additional notable investors include Anand Iyer from Canonical Crypto and Dan Matuszewski from CMS Holdings.