Web3 startup CARV raises $4M in Vertex-led funding round

The new investment round that Carv has received increased the company’s valuation to $40M.
CARV logo over a blue background of blockchain data

CARV announced amassing $4 million in a seed funding round led by Temasek Holding’s venture capital branch Vertex. EVOS, SNACKCLUB, Infinity Ventures Crypto, YGG SEA, UpHonest Capital, Lyrik Ventures, Lintentry Foundation, PAKADAO, 7UpDAO, and angel investor Aliaksandr Hadzilin were among the contributors.

Through gaming credentials, the Los Angeles-based company seeks to empower gamers with data sovereignty. By integrating data infrastructure and analytics, CARV helps game studios recognize gamer activities accurately, gain an insight-driven understanding of the user base, and reach the correct population.

Victor Yu, CARV’s Co-Founder and COO, had some comments:

“Gamer activities span across devices, platforms, and into real life. However, their time, effort, and money spent remain data points scattered across isolated ecosystems, with limited value to gamers. By creating the infrastructure to piece these breadcrumbs together, we are unlocking tremendous opportunities in how gamers interact in the gaming universe.”

“There is a paradigm shift in how games think about user acquisition, business model, and in-game economy design. With the shift comes challenges to games’ sustainability. CARV is uniquely positioned to work with game partners to address these challenges.”

In light of recent investments, the company is now valued at $40 million. CARV is looking to build a platform with decentralized IDs for gamers, allowing them to access games, friends lists, and achievements with only one ID and credentials.

The Los Angeles-based Web3 entity has over 300,000 users with 90 games registered on its platform. CARV intends to create customized user experiences like leaving tips for comments, and the platform plans to take a percentile cut in return from interactions of such.

NEXT: Insert Stonks raises over PLN 2.5M in a pre-seed round

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