Nevermined receives 3 million euros to facilitate Web3 development
Zug (Switzerland) — Nevermined AG, a Web3 company providing tools for reading, writing and owning digital assets, announced its first investment round of €3 million, led by Signature Ventures and Polymorphic Capital. The Nevermined platform consists of modular solutions that make it easy for users to create and monetize digital assets and participate in the read-write-own vision of Web3.
The platform provides the foundations for building digital ecosystems with components such as Tokenization Engine, Marketplace Creator, Royalties Engine, Decentralized Access Control, DAO Framework and DISC, or Data In-Situ Computation, for remote computation.
Don Gossen, CEO of Nevermined, explains, “The best Internet is the one that everyone can access and own. And that is what Nevermined enables people to do. When it comes to data related to Web3, our pedigree speaks for itself — our team has been working with cutting-edge technology for over 20 years, first in Big Data and now in Web3. With these building blocks, we can help you realize your vision. I would argue that we are the best team in the world doing what we do.”
According to a new report by Grand View Research, the global blockchain technology market is expected to reach $1,431 billion by 2030. Given this market opportunity and its solid, proven technology, Nevermined will use this capital increase to:
Become more complete and scalable by driving its product roadmap: Nevermined will enhance its digital asset development platform that makes the Web3 accessible by streamlining the creation, monetization and management of distributed digital assets. Key projects include:
● Company: A global energy company used the platform to establish a peer-to-peer marketplace for trading carbon credits.
● Creative: Autonomies uses Nevermined to build a music NFT platform and DAO that enables a more equitable distribution of value between musicians, labels, and collectors.
● Science: In a world first, VitaDAO used Nevermined to tokenize the intellectual property of scientific research conducted by the Scheibye-Knudsen Lab in Copenhagen.
Improve accessibility by accelerating global presence: To drive business growth and a better customer experience, Nevermined will strengthen its presence in key areas such as product, engineering, marketing and community.
Easier to use by expanding the breadth and depth of the partner ecosystem: Nevermined will form both technical and creative partnerships to support its mission. In addition to deepening partnerships with initiatives like Autonomies, an NFT music platform that enables artists to become participants.
We only invest in outstanding teams that are the backbone of the decentralized future,” said Signature CEO Juliane Hahn. “We see a lot of startups trying to combine data with blockchains. Nevermined is the first company to understand the complexity and provide concrete solutions at the intersection of data and Web3. In the future, every data-driven company will need the ability to transform its data silos into data ecosystems. Nevermined provides the complete product stack to do just that.”
“We are very impressed with the Nevermined team,” says Vitaly Spassky, founder of Polymorphic Capital. “They have both the vision and the technical talent and pedigree to make it happen. For us, digital assets are a critical building block for the decentralized web. And the Nevermined platform makes it super easy for teams and projects to integrate Web3 technology. We’re very excited to see what people will build with Nevermined.”
Nevermined started as an incubation project within Keyko AG to solve problems related to data sharing through tokenization and smart contract gateways. From there, it evolved from a data-centric solution to a decentralized digital asset solution with much broader applicability.
Nevermined is a Web3 company that provides tools to read, write and own your digital assets. It was founded by CEO Don Gossen, CTO Aitor Argomaniz and CIO Dimitri De Jonghe. They met while founding Ocean Protocol, the world’s first decentralized data marketplace. In 2019, they founded Keyko out of a shared belief in the power of digital ecosystems. They helped a variety of organizations develop Web3 ecosystems that are collectively valued at $3 billion. In 2022, they decided to spin off Nevermined as a standalone technology platform.
About Signature Ventures
Signature Ventures is an early-stage venture capital fund that invests in blockchain, distributed ledger technology, and Web3 technology. The fund is based in Germany and invests in pre-seed to Series A, globally with a focus on Europe. Signature Ventures is led by Juliane Hahn, Founding Partner, and Dr. Georg Stricker, Tech Partner. They combine an extensive track record in VC investments with deep blockchain expertise.
About Polymorphic Capital
Polymorphic Capital is a venture capital firm that invests globally in teams shaping the future of the Internet with decentralized protocols and digital assets. The company specializes in infrastructure, finance and gaming.
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