Genies raised a $65M Series B led by Bond. They hope to raise another $100M or $200M in Series C. This article will discuss how Genies raised their Series B. It will also discuss the companies’ next steps. In particular, we will focus on how Genies plans to scale their product.
Genies raises $65M Series B led by Bond
Genies, a creator of wearable digital goods, is raising $65 million to help it grow and expand its avator maker. The company is positioning its product as a virtual identity platform and avatar marketplace. It has launched a beta version of its product and plans to expand its beta program to larger groups of consumers in the coming years.
The Genies marketplace allows users to design their own avatars. It features celebrity and brand marketplaces where users can create and sell limited edition digital goods. Users can also select hairstyles and body types, and customize clothing and fantastical accessories.
Nigam hopes that the Genies avatars will make this possible. They are also planning to partner with Giphy so people can use Genies as cultural accessories. Genies’ business model relies on the celebrity-driven digital likeness market. The company will allow celebrities to sell items to fans, while fans can use Genie avatars to express themselves.
Genies to raise $100M in Series C
Genies will raise $100M in Series C funding, leading the company to reach a valuation of over $1 billion. The company, which was founded in 2017 in Los Angeles, is backed by investors including Mary Meeker’s Bond, NEA, Breyer Capital, and others. As of March 2022, Genies will have over 125 employees.
Genies is a technology startup that builds wearable fashion lines and avatar ecosystems. The company’s latest Series C funding rounds includes Silver Lake, a global leader in technology investments. The investment also includes participation from existing investors. In the Series C round, Genies will spend the funds on product development and customer success.
The new capital will be used for recruiting new employees and for the development of its core technology. The company has already received investments from NBA Top Shot maker Dapper Labs and crypto giant Coinbase. Dapper Labs will help build the backend for Genies’ avatar accessories storefront. The company is also planning to leverage its celebrity relationships to grow its user base.
Genies to raise $200M in Series C
The company has closed a $150 million funding round, and it has now achieved a $1 billion valuation, putting it on the path to becoming a Unicorn start-up. The new funding will help Genies advance its blockchain gaming strategy and continue developing avatar creation tools for video games and metaverse experiences.
Genies is a Los Angeles-based company that creates customizable avatars for video games. It has already partnered with major music companies, such as Warner Music Group and Universal Music Group, to create their avatars. Some of its famous celebrity avatars include Justin Bieber, Cardi B, Migos, and others.
Another unicorn is Sebacia, a company that makes a treatment for acne that can only be administered by a dermatologist. The company has raised $22 million in Series C funding, and previously raised $12 million from early investors. This raises the company’s total funding to over $55.6 million. Other unicorns in the sector include Big Health, a cloud-based health and wellness portal. Big Health has raised $75M in Series C funding from SoftBank, as well as ArrowMark Partners, Octopus Ventures, and Gilde Healthcare.
Genies raises $65M Series B led by Bond
Genies is a startup that develops avatars for use on the web. The avatars are like digital wearable identities and can be used anywhere on the internet. The company started by helping celebrities monetize their avatars. Now, the company is expanding its beta program to a broader range of consumers.
The company also has a partnership with Giphy. The two companies hope to make Genies into more than just cultural accessories. The company is also planning to use Genies to build a digital marketplace powered by celebrities. Fans will be able to buy and sell items from their favorite celebrities through their avatars.
The company plans to build hundreds of partnerships with other companies to help users take their Genie on the web. The new app will also let users take their Genie with them from one platform to another. For example, Genies has partnered with Giphy, which has 700 million users and a search engine for animated GIFs, or graphics interchange format.
Genies raises $65M Series A led by Bond
Genies is a Japanese tech startup that creates avatars and sells them to consumers in exchange for virtual goods. The company is building a blockchain-based platform that will allow users to use the avatars as cultural accessories and transact with others around the world. Its $65 million Series A round was led by Silver Lake, with participation from NEA and Tamarack Global. The company plans to use the new funds to hire engineers and invest in its core technology.
The funds will be used to build a digital goods marketplace on the Flow platform from Dapper Lab, which is compatible with nonfungible tokens. These are tokens that allow people to buy and sell unique digital items that are part of the blockchain.
The company plans to build hundreds of partnerships with other companies to allow users to use their Genie wherever they go on the web. Recently, it partnered with Giphy, a search engine for animated GIFs. GIFs are animated pictures in a graphics interchange format, and are often associated with internet memes.
Conclusion
The company also raised Series D funding from Goldman Sachs Asset Management, 83North, and Dell Technologies Capital. In Istanbul, Turkey-based studio Dream Games has also secured $25.5 million in Series C funding from Index Ventures, Makers Fund, and Balderton Capital. In October, the company also raised $200 million from new investors, including Alta Fox Capital and Canada Pension Plan Investment Board.
