Nevermined minds €3 million in seed funding

Zug-based Nevermined has raised €3 million in a seed funding round as it aims to make Web3 development easier and faster for creators and developers alike. The capital is slated to be used to further advance the startup’s roadmap with projects targeting enterprise usage of the platform, a series of music-focused NFT tools, and the expansion of a tokenisation of IP of scientific research project recently conducted by the Scheibye-Knudsen Lab in Copenhagen.

What originally began as a project within web3 product and services company Keyko to solve data sharing using tokenisation and smart contract gateways; Nevermined has taken on a life of its own and grown into a full-blown platform that offers modular solutions that are meant to serve as the basis for digital ecosystem creations. 

At present, the startup offers developers and creators a tokenisation engine, a marketplace creator, a royalties engine, decentralized access control, a DAO Framework, and data in-situ computation (DISC), for remote computation services.

“When it comes to data mixed with Web3, our pedigree speaks for itself,” commented Nevermined CEO Don Gossen. “In fact, I’d argue we’re the best team in the world that does what we do. The team has been working with cutting-edge tech, first in big data, and now in Web3, for going on 20 years.”

If any of this is ringing any bells, you might remember just a few weeks prior my report on Estonia’s NFTPort’s $26 million Series A round. While not exactly the same, the two startups are playing on the same pitch, making NFT’s and just about anything else Web3/Blockchain related a whole lot easier to understand and utilise for readers like you and me.

Nevermined’s €3 million seed funding round was co-led by Signature Ventures and Polymorphic Capital.

“We’ve been very impressed with the Nevermined team,” said Polymorphic Capital’s Vitaly Spassky. “They have the vision, as well as the tech talent and pedigree to execute. To us digital assets are a crucial building block for the decentralised web. And the Nevermined platform makes it super easy for teams and projects to integrate Web3 tech.”