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API-based NFT infrastructure startup Rarify raised $10 million in a Series A funding round led by venture capital firm Pantera Capital at a $100M valuation. The fresh capital will be used to accelerate the hiring process and product launches with business partners.
Latest Funding Follows from a $2M Seed Round
Besides Pantera Capital, other investors in the Series A round included Eniac Ventures, Greycroft, Hyper, and Slow Ventures. The latest funding round also follows a $2 million seed round from late last year that included participation from Pareto, Eniac Ventures, Greycroft, Scott Belsky, Protocol Labs, and others. Rarify currently offers commerce API infrastructure for marketplaces and applications to build end-to-end NFT experiences. The company also provides real-time API access to historical data for NFT assets across multiple blockchains that companies can use when building decentralized finance and marketplace products. Commenting on the development, Pantera partner Paul Veradittakit, said:
“Rarify removes the major impediments firms have when implementing NFTs to their existing products. We’re delighted to work with the Rarify team to help them accelerate their growth and make NFTs more accessible to businesses and, by implication, consumers.”
Closing the Gap
Founded last year, Rarify’s co-founders Lasha Antadze, Dmytro Haidashenko, Revaz Tsivtsivadze, and Vlad Dubinin have combined blockchain and enterprise API developer experience dating back to 2014. The platform was intended to offer an application programming interface (API) platform that allows companies to create, manage and scale NFT products with simple integration. The startup aims to close the gap between decentralized technology and widely adopted application layer protocols.