Crypto Fantasy GameFi Kandle Raises $1.7 Million In Seed Funding The funding will be used to develop the platform further and expand its user base, featuring their flagship product 'Crypto Fantasy Leagues'
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Kandle.xyz, a crypto fantasy GameFi project from Singapore, has raised a $1.7 million in Seed funding round led by Saama. The seed funding round was led by Saama, with participation from PointOne Capital, Cloud Capital, Good Capital, Founder's Room, Seeders Fund, and Mr. Sumit Gupta (CEO- CoinDCX), amongst other individual investors in the gaming and financial services industry.
The funding will be used to develop the platform further and expand its user base, featuring their flagship product 'Crypto Fantasy Leagues' - a game that allows players to choose crypto coins as their battle tokens and face off against other players in a battle of the portfolios.
"There is a massive opportunity at the intersection of gaming and crypto, and we're excited to be at the forefront of this evolution in crypto fantasy gaming. Super grateful for the unwavering support of our investors as we forge ahead in bringing the vision of Kandle to fruition," said Jaideep Yadav, founder, Kandle.
Kandle.xyz offers innovative fantasy games using crypto coins, where players compete to win rewards. In an official release, the company said it plans to release its project roadmap on token issuance, token utility, and a Play-and-Win model that looks promising to reimagine the Play-to-Earn ecosystem.
"We were impressed by the innovative approach of the Kandle team in combining gaming and crypto. As the crypto industry continues to evolve, we must make it safe and free from the fear of outsized risk for the next tranche of users. Kandle's gamified approach does exactly that – it offers a unique and timely tool for users to engage with crypto without taking direct exposure to any of the coins," said Ash Lilani, Managing partner, Saama.
Saama is an early-stage, sector-agnostic, India-focused venture capital firm investing since 2006.
