Announcing our $2.5M seed round backed by Infinity Ventures Crypto, Coin Operated Group & Balaji S
Updated: May 5
We're thrilled to announce that we have officially raised a $2.5M seed round to build a mobile-first tokenized community building platform, on top of Solana.
CrowdPad was a part of the inaugural cohort of On Deck’s accelerator program ODX and is one of the first companies out of ODX to announce its seed raise. Infinity Ventures Crypto led the round, joined by Coin Operated Group, Serum Incentive Ecosystem Foundation, DXB Fund, Morningstar Ventures, Creator Led Ventures, Ocular VC, and Kosmos Ventures. Notable angel investors including Balaji Srinivasan, Lily Liu, Furqan Rydhan, Joyce Yang, Anirudh Pai, Julian Weisser, Akshay BD, Tanmay Bhat, Shradha Sharma, Ali Abdaal & Wong Joon Ian have also joined the cap table.
Creators want to own the entire value chain of the communities they foster, and CrowdPad empowers them to do just that and so much more. Creators have cemented themselves as a force in our economy, yet there is still not a viable path for creators with 100 true fans (or even 1000) to make a living. The closest manifestation of the same in Web 2.0 has seen only the top 1% of YouTube creators make minimum wage, with a creator requiring a minimum of 4000 watch hours before even beginning to monetize for $0.01.
Social tokens have the power to alter these dynamics. They allow creators to monetize social capital by facilitating tokenized communities. Fans can buy a community’s token for access to exclusive posts, events, bounties and broader decision-making.
CrowdPad is a tokenized community-building tool for everyday creators that allows them to create, discover, and manage their tokenized communities all in one place, using a simple TikTok-style video-first approach to community discovery. To put it another way, CrowdPad is developing the operating system for Creator DAOs (digital-native communities with a shared purpose and a shared bank account). In comparison, communities today must go through a 6+ step process that is completely disjointed, which includes setting up a wallet, multi-sig, voting, community management, and others.
CrowdPad is leveraging the Solana ecosystem and challenging the status quo on Web3 DApps by building on mobile-first, which is where the majority of us spend most of our time anyway. Today, the most notable DApps are only available for custodial and non-custodial wallets. CrowdPad will be among the first to make the bold move into Web3 Social on mobile.
The seed funding will facilitate the team’s operations across the Indian and EMEA markets, with a core emphasis on hiring top talent and building strong communities.
“This investment enables us to accelerate our progress towards facilitating 1000 tokenized communities that have meaningful token-based interactions, wherein communities can create opportunities for members to earn, reward and spend in social capital. We’re excited to enter the next phase of our journey with some of the best strategic investment partners in the world on all things creator economy, crypto-native and geographic expertise across core markets,” said Joel Alexander, Co-founder and CEO at CrowdPad
“We have built a strong, passionate team who I am inspired by everyday. We are focused on building an easy-to-use, beautiful platform that will make entering the web3 ecosystem seamless and exciting. We are continuously exploring ways to truly provide value to our users and put the power back in their hands; this has involved exploring the intersection of ownership, staking and engagement as the underlying principle for access to communities, multisig and quadratic voting for decision-making and so much more.” said Drishti Chawla, Co-founder and CTO at CrowdPad.