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October 7, 2023 - Deals
IYK Secures $16.8 Million Seed Funding Led By A16z Crypto With Multiple Investors
RAISE
IMAGE: Ryan Ouyang & Christopher Lee
DATE: 09/29/2023
COMPANY: IYK
INVESTORS: Synergis Capital, Palm Tree Crew, Lattice Fund, Justin Aversano, G money, Coop Records, Collab+Currency, Art Blocks, a16z crypto & 1kx
ROUND: Seed
AMOUNT: $16,800,000
NOTE: Web3 startup IYK has secured $16.8 million in seed round funding, led by A16z crypto and featuring Collab Currency, Lattice Capital, 1kx, Synergis Capital, and others. Founded by Ryan Ouyang and Christopher Lee, IYK uses NFC (near-field communication) chips in merchandise to verify authenticity with a simple smartphone tap. Customers receive NFTs and exclusive brand offers, while businesses gain insights into ownership and direct customer communication. IYK recently partnered with Adidas for a limited shirt release tied to NFT NYC 2023, illustrating its mission to enable brands and creators to create "digi-physical" products. This fundraising success comes in a challenging funding landscape for blockchain startups, following IYK's participation in the A16z Crypto Startup School accelerator program.
HQ: #Manhattan #NewYork
#VentureCapital #RyanOuyang #ChristopherLee #IYK #SynergisCapital #PalmTreeCrew #LatticeFund #JustinAversano #Gmoney #CoopRecords #CollabCurrency #ArtBlocks #a16zcrypto #1kx #TradedVC
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Businesses Increase AI Spending As Anthropic Leads Adoption At 43.5%Ramp’s latest AI Index shows businesses are continuing to increase AI spending despite rising pressure from cheaper and open-source models. In July, the top 1% of businesses spent a median $7,400 per employee on AI, compared with $650 for the top 10% and $11.95 for the median firm, while Anthropic led business adoption at 43.5%, ahead of OpenAI at 39.7%.
#VentureCapital #Ramp #TradedVC