Estonian NFT startup NFTPort has collected $ 26M series one round.
NFTPort, an Estonian startup that builds crypto infrastructure for developers, has raised 26M in a Series A round. The funding was led by Atomico and Taavet + Sten, two European companies. Accordingly, NFTPort will use the funds to improve its core API products while scaling the platform.
Who has invested 26M in NFTPort’s Series A round?
NFTPort, an Estonian startup founded less than a year ago, raised $ 26M in a Series A round. The group posted the news on their blog on June 15.
According to the group’s CEO Johannes Tamekand, the funding round was led by Atomico and Taavet + Sten. Atomico is a European venture capital company, while Taavet + Sten is an investment group led by Wise co-founders Taavet Hinrikus and Sten Tamkivi, who founded Teleport.
In fact, Stan Tamkiwi will join the NFTport team as a co-founder. Rain Johansson, a former CTO of the transport company Bolt, partnered with the group as a co-founder.
The list of investors also includes Protocol Labs, Polygon’s Jayanti Kanani, Sparkle Ventures and Polcadet’s Jutta Steiner.
How will startup funds be used?
Accordingly, the main goal of the company is to scale its existing infrastructure. At the moment, more than 30,000 developer teams are using the NFTPort platform – including the Nifty Gateway and Protocol Labs.
Second, the team’s goal is to create “the best NFT infra experience for Web2 and Web3 developers.” Therefore, the platform can be compatible with multiple chains.
To achieve these goals, CEO Johannes Tamekand will also expand the team. In fact, the company will grow from 18 (today) to more than 50 employees.
Overall, NFTPort seeks to provide startup developers with a decentralized NFT-centric protocol to enhance the Web3 experience.
What is NFTPort?
Launched in 2021, NFTPort is a provider of NFT infrastructure and API products for developers. At the moment, the platform offers three basic digital items:
- Data API – Allow devs to quickly access NFT data from multiple blockchains;
- Minting APIs – Assisting developers to create NFT smart contracts without coding;
- User Security APIs – Double-checking previous NFT minting processes.
“Our infrastructure enables developers and companies to bring their NFT applications to market in hours or days instead of months, thus saving thousands of dollars.” Tammekänd explained.
In conclusion, NFTPort is one of the most promising NFT-related startups of the season. Thanks to their $ 26M Series A funding round, the team will expand and improve their platform for a seamless developer experience.
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