Here’s the 13-page pitch deck a Swiss data-sharing startup aiming to make Web3 more accessible used to raise $3 million
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- Nevermined is a Swiss startup focused on opening up access to Web3.
- The startup raised a $3 million seed just months after its April launch.
- The capital will be used to support the company’s plug-and-play services for Web3 builders.
A Swiss startup that helps users create their own digital assets just scored $3 million in seed funding within months of its April launch.
Nevermined announced the round on July 12, which was led by Signature Ventures, a German blockchain venture-capital firm, and Polymorphic Capital, a VC headquartered in Saint Louis.
Nevermined offers digital-asset development software for making Web3 more accessible for decentralized application (dapp) builders. The startup was incubated at Keyko AG, a Web3 product and services company founded by Nevermined’s cofounders in 2019.
Don Gossen, Nevermined’s CEO, said it was in stealth mode for nearly three years before launching this April. Gossen, along with fellow cofounders Dimitri De Jonghe, the CIO, and Aitor Argomaniz, the company’s CTO, privately built the platform while simultaneously soliciting backing from VCs in their Rolodex’s.
“We built this as initially a data-sharing concept and that evolved into a platform that’s enabling integration with Web3 technologies,” Gossen told Insider.
The trio started Nevermined as a project where they sought to get databases to work in conjunction with each other without having to format them and then move them to a data-storage center. Moving data around comes with security risks and then there’s the issue that aggregate data can get so voluminous that it “breaks” the consolidation process, Gossen said.
The cofounders discovered that there was another way to integrate databases through data federation, a process where a virtual database is created to represent a number of other databases. This allows databases to remain safely where they are while also allotting access to them.
It wasn’t long before the three men realized the Web3 potential for their solution. It could be used to simplify the creation, monetization, and control of a user’s data and the assets created from that data.
A number of enterprises have been developed on Nevermined, including VitaDao, an organization that’s funding scientific research through intellectual property NFTs; Autonomies, a music NFT marketplace; and Carbon Credits Marketplace, an exchange for carbon offset NFTs.
Based in Zug, Switzerland, Nevermined plans to use its funding to become more of a plug-and-play platform for builders and ramp up its marketing and branding.
“We wanna make components available via the website so that we don’t need to have that customer relationship management piece that’s a physical relationship between us and the adopter,” said Gossen.