Silver Lake led the round and was joined by investors including 83North, Elaia Partners, Felix Capital, and Permira. Mirakl, a Paris-based maker of software for online marketplaces, raised $555 million in Series E funding. Jessica Mathews compiled the IPO and SPAC sections of this newsletter. When Greylock last raised capital for seed deals, a $20 million carve-out in 2010, the partners learned that writing checks in some 100 startups ‘just isn’t a fit for Greylock,’ Guo said.” “To avoid overexerting its staff, Greylock plans to write checks at sizes up to $20 million-far above the median seed-deal size of $2.6 million, according to PitchBook-in fewer companies. Here’s an excerpt from the Information’s Kate Clark, including a quote from Greylock Partner Sarah Guo: It plans to write checks nearly eight times the industry average for the stage out of its fund. Seed deals, for lack of a better term, are on fire.īut even in that space, 56-year-0ld Greylock’s new $500 million fund focusing on seed deals is notable. It’s why many investors are doubling down on the space, including Sequoia, which most recently raised about $195 million for a dedicated seed fund and Andreessen Horowitz, with its $400 million seed. Buy it now.Investing in the earliest stages of a startup, when it is just forming, is risky but potentially extremely lucrative. Use code ARTICLE for £75 off your ticket. I really do think gaming is the next frontier for NFTs,” Finzer said at the conference.Īre you a UK or EU reader that can’t get enough investor-focused content on digital assets? Join us in London on November 15th and 16th for the Digital Asset Summit (DAS) London. A lot of games have been incredibly successful. In recent months, certain NFTs have sold for $6 9 million, along with their marketplaces such as OpenSea reporting monthly trading volumes of over $3 billion.ĭuring a fireside chat at Messari’s Mainnet conference on Monday, OpenSea Co-Founder Devin Finzer said that despite the surging popularity in art and collectibles on the marketplace, gaming could be the “next frontier” for non-fungible tokens, Blockworks reported. In general, the NFT space has taken the world by storm. Paris-based Sorare will use the new funding to recruit new talent in Europe and the US, sign new partnerships, accelerate on mobile and marketing, and expand into new sports in 2022, beyond the world of soccer.Īlthough Sorare already holds a handful of partnerships with over 50 national teams and clubs, including soccer teams like Bayern Munich, Liverpool and Juventus, it also plans to use the funding to launch new partnerships with the top 20 soccer leagues onboard and the top 50 national teams, Julia said.Įarlier this month, the company also announced a partnership with LaLiga soccer league, which is home to the top professional soccer teams in Spain and is one of the top soccer leagues in the world. Because of our shared passion for the beautiful game, creating a fantasy football product was the perfect place to begin our journey,” Nicolas Julia, co-founder and CEO of Sorare said in a blog post. “When my co-founder and I first laid out our vision for Sorare in the summer of 2018, our ambition was to create a new game that could unlock the limitless potential of non fungible technology. Players can build teams and play against each other through the platform and face outcomes based on the players’ outcome in reality during a game. The company was founded in 2018 as an online game for users to buy officially licensed cards of soccer players, which are traded in the form of NFTs. With this new investment, the company said it is now valued at $4.3 billion. In February, the company previously raised $50 million in a Series A round. Investors in the round also include participation from Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree, as well as previous investors such as Benchmark, Accel and Partech, and business angels including Reddit co-founder Alexis Ohanian and football players Gerard Piqué, Rio Ferdinand, Antoine Griezmann and César Azpilicueta, Sorare said. The soccer-focused crypto platform Sorare has closed one of Europe’s largest Series B funding rounds at $680 million, led by SoftBank. In February, the company previously raised $50 million in a Series A round.With this new investment, the company said it is now valued at $4.3 billion.
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