Carv, a data layer platform that lets web3 gaming and AI firms, in addition to gamers, management and monetize their data, has raised a $10 million Series A spherical led by Tribe Capital and IOSG Ventures.
Carv’s new spherical comes roughly 5 months after it obtained a strategic funding led by HashKey Capital. The startup didn’t disclose its valuation and the overall funding it has raised thus far. In 2022, Carv was valued at roughly $40 million when it raised a seed spherical led by Temasek’s VC arm, Vertex Ventures.
Carv’s preliminary focus is on two key industries, gaming and AI, the place it sees the most important alternative to help customers management their data and monetize it. Users can select to present their data to Carv’s company prospects in a approach that preserves their privateness and is compliant with laws, in order that firms can use it for coaching AI fashions, market analysis and extra.
“While user data has powered tremendous economic growth, individuals don’t share the value created when their information is leveraged to build billion-dollar businesses,” Victor Yu, co-founder and COO of Carv, advised Ztoog.
Carv affords three options: CARV Protocol, a modular data layer with cross-chain connectivity that connects web2 identities to web3 tokens; CARV Play, a cross-platform credentialing system and sport distribution platform; and CARV’s AI Agent, CARA, a personalised gaming assistant that integrates with web3 wallets and might advocate video games, actions and tasks.
“Carv differentiates itself by putting data ownership and monetization rights in the hands of users. Any revenue generated from leveraging users’ data gets shared back with the data creators and themselves,” Yu mentioned. “Additionally, we’ve created a unified user ID standard (ERC-7231) that bridges web2 and web3, enabling seamless data portability versus today’s siloed solutions.”
Carv has been worthwhile since December 2023, and generates month-to-month recurring income of greater than $1 million, Yu mentioned, including that the corporate can be seeing important month-over-month development.
The firm now has 2.5 million registered customers and over 350 built-in gaming and AI firm companions.
With the brand new capital, Carv plans to improve the design of its CARV Portal to guarantee it’s scalable and might help a broader vary of use instances. It may also launch CARV Link to enhance on-chain identification and data authentication, and CARV Database to handle numerous sorts of consumer data.
Arweave, Consensys (developer of MetaMask and Linea), Draper Dragon, Fenbushi Capital, LiquidX, MARBLEX, (the web3 arm of Korean gaming firm Netmarble), No Limit Holdings and OKX Ventures additionally participated within the Series A spherical.