Kalaari Capital, others, invest $12m in Indian NFT startup GuardianLink.io

Photo: Mint

Non-fungible token (NFT) ecosystem technology platform GuardianLink.io has raised $12 million in a Series A funding round led by Kalaari Capital and a private investor group, the company said in a statement on Tuesday.

GuardianLink.io plans to use the funds to expand the company’s design labs in Japan and Singapore and enhance the technology brand’s creative development capabilities and deepen its curative NFT packaging foundation, the company said.

The NFT market is rapidly gaining traction in India, with celebrities from cricket and the film industry, popularly known as bollywood, launching digital assets in a bid to make thousands of dollars by cashing in on rising interest in such assets.

Kalaari Capital, a Bengaluru-based venture capital firm, has been investing in technology-focused startups in India and recently led a $2.5 million funding round in edtech startup Creative Galileo. It had also led a $2.3 million funding round in Leading Bird Web Services Pvt Ltd, which operates diagnostics-focused startup ConnectedH.

Kalaari Capital’s investment in Guardian marks the venture capital firm’s first investment in the NFT space.

“Metaverse-based economy will be a key disruptor and NFTs are going to play an instrumental role in powering the digital economy of the future. The applications will extend across major industries including Gaming, Fashion and Retail,” said Vani Kola, managing director, Kalaari Capital.

Guardian had launched its NFT marketplace platform in 2020, and currently supports more than 40 NFT markets globally. Guardian has installed more than 45 marketplace cloud platforms with built-in Anti.Rip technology to prevent NFTs from getting copied and its Secure Vault based Legitimacy protocol.

“With NFTs becoming a critical part of asset monetization for creators, athletes, artists and brands – Guardian has been on the forefront of the race to build and operate some of the largest marketplaces and most advanced creative NFTs in the space,” said Ramkumar Subramaniam, co-founder, CEO, GuardianLink. “..this funding will be further instrumental in helping us build a stronger NFT ecosystem in India and across the globe,” he added.

The growing craze for NFTs in India has also been leading to startups in the space raising funds, in a bid to expand. Last week, NFT startup Lysto raised $3 million ( 22.25 crore) in seed capital from BEENEXT, Better Capital, Cloud Capital and other investors. Another NFT platform Hyy.pe in October raised $2 million in a funding round led by Elevation Capital.

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.