Strive Raises $500,000 in Pre-Seed Funding Round
Funds will be utilized to launch its marketplace and exchange for fractionalizing blue-chip NFTs for retail investors
Strive on Wednesday announced to have raised $500,000 in a pre-seed funding round led by investors including 100X.VC, Anupam Mittal, Let's Venture, GrowX Ventures, Amey Mashelkar, Saurabh Agarwal, Sandhya Patel, YPO and a clutch of prominent angel investors from YPO. Funds will be utilized to launch its marketplace and exchange for fractionalizing blue-chip NFTs for retail investors.
"Our goal is to provide access to high-quality NFTs such as BAYC that have traditionally been out of reach for most people in the space. We believe fractionalizing these NFTs can make them more accessible and democratize this space," said Kartik Mehrotra, CEO and co-founder, Strive.
"Strive offers a unique yet essential product for retail investors in the crypto market. Strive's marketplace will help increase the liquidity of NFTs and make it easier for people to buy and sell NFTs in the broader market with an additional focus on risk diversification, faster ROI, and higher buying conviction. We look forward to the platform's growth in the NFT training and investing ecosystem," said Ninad Karpe, partner, 100X.VC.
Founded by Kartik Mehrotra and Swathi Perumala, Strive is on a mission to give the bottom 95 per cent of crypto holders and web3 users access to high-quality NFTs that are typically accessible to the top five per cent of wealth holders. Several blue-chip NFTs can range from lakh to crore, making it an unaffordable and risky asset class for retail investors. Furthermore, millennials and Gen Z are the biggest users of NFTs but do not have the same level of disposable income and lack the capital to invest in blue chip NFTs. Strive is solving this problem by making them available to retail investors with as little as INR 1000. It will allow more people to invest in NFTs and help grow the NFT market. Strive also runs live courses on Web3 to build literacy among users. It has 75,000+ users who have attended the live classes, and over 100,000+ Web3 users globally are on the waitlist to join its NFT marketplace.