Blockchain startup Lysto raises $3 million in seed round
- ByTejika Bajaj | November 12, 2021
NFT startup Lysto announced that it has raised $3 million (Rs. 22.3 crore approx.) in its seed round of funding from various entities like BEENEXT, Better Capital and Cloud Capital.
The round also saw participation from angel investors and entrepreneurs including Binny Bansal (Co-Founder of Flipkart), Sandeep Nailwal and Jayanti Kanani (Co-founders of Polygon), Pradyumna Agarwal (Managing Director of Temasek), Nitish Mittersain (Founder of Nazara Games), Kunal Shah (Founder of Cred), Ashish Hemrajani and Parikshit Dhar (Co-founders, BookMyShow), Anupam Mittal (Founder, Shaadi.com), Ashish Gupta (Founder, Helion Ventures and Kumar Sunderesan (Founder, Qwikcilver).
The startup seeks to utilize the funds raised for product development and expansion of team which will help the team achieve its mission of furthering and simplifying the adoption of NFTs.
Commenting about the recent infusion, the founder and CEO of Lysto, Sadiq Ahamed stated, “NFTs are becoming an integral part of business and culture. With its applications across industries, it is a multi-billion dollar industry, which is largely restricted to digital art and collectibles currently. As the market expands, we see that every e-commerce player, every production (entertainment, gaming, animation), and every brand would want to launch NFTs to raise funds and monetise their offerings.”
Founded in 2021 by Sadiq Ahamed, Lysto has its offices in Bengaluru and Singapore. The startup aims to take the NFTs to more than 4 billion users through millions of use cases. The goal of the organisation is to make the adoption of NFTs simple and quick.
Follow Startup Story
Related Posts
