Rockstart and Graduate Entrepreneur have invested in Authic Labs, an NFT marketplace for creators situated in Amsterdam and built on the Ethereum blockchain. The sum of the funding has not been made public.
According to Authic Labs, the money will be used to expand its engineering staff and operations, boost marketing and advertising initiatives, and improve product offerings.
“I am particularly pleased with our team for the perseverance they have shown during the fundraising process,” says Lemar Bachtiar, co-founder and CFO of Authic Labs. Although it was difficult at times, we never gave up. We persisted in our efforts, confident that our ideas and ardor would ultimately prevail. We are eager to continue pushing the limits of web3 technology and introducing fresh, cutting-edge products to the market.
Lemar Bachtiar, Tat Nguyen, and Wouter Kloosterman founded Authic Labs intending to democratize Web3 and transform how businesses interact with their customers.
Using NFTs, the business develops what it calls “unique marketing experiences.”
The Dutch marketplace provides companies and organizations from a variety of industries, including art, fashion, gaming, or sports, with a no-code platform, Authic Suites, to produce and sell digital collectibles on their website.
Authic Suite makes digital assets available to everyone through FIAT payments including Credit Card/VISA, ApplePay, iDEAL, KYC/AML integration tools, and simple-to-use wallets for storage.
Along with the option to purchase with cryptocurrency, Authic Labs also combines other payment methods and provides bespoke design possibilities.
According to Kloosterman, once the technology underlying Web3 has been rendered invisible, it can only be made accessible to everyone.
An influential and deserving alumni group from the Delft University of Technology, Erasmus MC, and Erasmus University Rotterdam founded Graduate Entrepreneur. On April 8, 2021, the initiative was announced.
The Fund Management Team, which consists of Auke van den Hout, Angela Pellaupessy, Ludolf Stavenga, and Nienke Roef, oversees the fund. They collaborate with a student team from Rotterdam and Delft. In addition to financing, the alumni provide mentoring and access to a large network.
The Graduate Entrepreneur Fund concentrates on funding businesses that provide technology that Delft and Rotterdam universities are renowned for, such as MedTech, logistics, and artificial intelligence (AI).
Early-stage investor Rockstart supports creators in the three industries of energy, agribusiness, and emerging technologies.
The Dutch VC firm finances start-up businesses. Connecting founders with co-investors, mentors, partners, corporations, and the larger Rockstart network, gives them access to finance, the market, and expertise.
The company’s alumni value exceeds $1 billion, and it has invested in more than 280 enterprises. From its first two funds in 2019 and 2020, the company invested in more than 60 agrifood and energy startups in Europe, Asia, and the US.
Image Credit: Authic Labs
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