June 28, 2022<\/p>\n\n\n\n
By Murtuza Merchant<\/p>\n\n\n\n
NFTPort, an Estonian startup that creates crypto infrastructure for developers, raised $26M in a Series A round.<\/p>\n\n\n\n
The funding was led by Atomico and Taavet+Sten, two European companies.<\/p>\n\n\n\n
Accordingly, NFTPort will use the funds to improve its key API products while scaling the platform.<\/p>\n\n\n\n
Who invested $26M in NFTPort\u2019s Series A Round?<\/p>\n\n\n\n
NFTPort, an Estonian startup founded less than a year ago, raised $26M in a Series A Round. The team revealed the news on June 15th on their blog.<\/p>\n\n\n\n
According to the group\u2019s CEO Johannes Tammek\u00e4nd, the funding round was led by Atomico and Taavet+Sten. Atomico is a European venture capital company, while Taavet+Sten is an investment group created by the Wise co-founder Taavet Hinrikus and Sten Tamkivi, who founded Teleport.<\/p>\n\n\n\n
In fact, Sten Tamkivi will join the NFTPort team as a co-founder. Rain Johanson, the former CTO of the transportation company Bolt, also partnered with the group as co-founder.<\/p>\n\n\n\n
The investors\u2019 list also includes Protocol Labs, Polygon\u2019s Jaynti Kanani, Sparkle Ventures, and Jutta Steiner from Polkadot, among others.<\/p>\n\n\n\n
How will the startup use the funding?<\/p>\n\n\n\n
Accordingly, the company\u2019s core goal is to scale its existing infrastructure. Right now, more than 30,000 developer teams use the NFTPort platform \u2013 including Nifty Gateway and Protocol Labs.<\/p>\n\n\n\n
Secondly, the team aims to create \u201cthe best NFT infra experience for Web2 and Web3 developers.\u201d Therefore, the platform might become compatible with multiple chains.<\/p>\n\n\n\n
In order to achieve these goals, the CEO Johannes Tammek\u00e4nd will expand the team too. In fact, the company will grow from 18 people (today) to over 50 employees.<\/p>\n\n\n\n
Overall, the NFTPort startup wants to provide a decentralized NFT-focused protocol to improve developers\u2019 Web3 experience.<\/p>\n\n\n\n
\u201cOur infrastructure enables developers and companies to bring to market their NFT applications in hours or days, instead of months and thus save hundreds of thousands of dollars,\u201d Tammek\u00e4nd explained.<\/p>\n\n\n\n
About the author<\/strong><\/p>\n\n\n\n Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":" June 28, 2022 By Murtuza Merchant NFTPort, an Estonian startup that creates crypto infrastructure for developers, 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 key API products while scaling the platform. Who invested $26M in NFTPort\u2019s […]<\/p>\n","protected":false},"author":4,"featured_media":2347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107],"tags":[],"class_list":["post-2732","post","type-post","status-publish","format-standard","has-post-thumbnail","category-all"],"yoast_head":"\n