KYRO DIGITAL RAISES SERIES A TO LAUNCH THE FIRST NATIVE WEB3 BUILDING PLATFORM, THAT POWERS THE NEXT GENERATION OF CRYPTO MARKETPLACE APPLICATIONS

SAN FRANCISCO, Feb. 10, 2022 /PRNewswire/ -- Kyro Digital, the first native Web3 building platform, closes $10M in Series A and SaaS revenue from several of the largest blockchains and native crypto venture funds including Avalanche (Blizzard), Polygon, Rally, Tezos in addition to introducing a native integration on Flow. Kyro is building a new category of services that transforms crypto adoption with a simple and easy way for chains and partners to re-think and advance NFT, Coin, and Token offerings with unique storefront applications. 

Kyro works with multiple chains, marketplaces and individual IP owners to make it easier to not just mint, launch and scale storefronts, marketplaces and DAOs but create new long-lasting on-chain value through Kyro's applications for genesis and secondary sales of all crypto assets. The platform allows creators to build natively across a choice of integrated chains.

Kyro gives any type of creator or brand who is launching an NFT series or any type of crypto asset through Kyro's partners the ability to not only seamlessly create their own marketplaces or storefronts but to create more utility value beyond just a piece of art. NFT, Token or Coin deployments include usable real-world and digital utilities that range from merchandise, rewards, events, donations, memberships, virtual goods, content and so much more. The creation and management of this new consumer lifecycle relationship across all types of crypto assets and utilities for their customers can now be managed using Kyro.

At launch, Kyro natively supports five leading chains — Avalanche, Ethereum, Flow, Polygon, Rally and Tezos. The platform also offers ten digital / real-world crossover applications, 3rd party applications, and the first Web3 builder.

"Rally enables creators to navigate the complex web3 landscape, both on the front end with their fans and in the tech infrastructure that ultimately plugs them into the broader web3 ecosystem," said Stephanie Pereira, VP of Creator Success at Rally. "The investment in Kyro will help creators with both of these aspects of their online communities: enabling a branded standalone interface on the front end, and the possibility of cross chain interoperability at the core of their offering."

Kyro Digital was spun out of Sage Digital and is led by founder serial entrepreneur and investor, Samir Arora, business operator and co-founder, Peter Leeb, and Darshana Munde, Liz Thompson, Arfat Allarakha and Muoi Lam. Arora has spent his career at the cutting edge of fundamental technology-driven consumer change; at Apple and NetObjects in Web 1.0, Ning and Mode Media in Web 2.0 and now the return to ownership and transparency in Web 3.0. Platforms, Builders and Blockchain has been rooted in Arora's DNA dating back to his early years at Apple where he was the lead engineer for one of the earliest platforms for distributed applications, a precursor to Layer 0 and 1 of today's blockchain. In 2016, he created one of the first social juice tokens for utility exchange between creators and audiences. 

The Series A includes investments from strategic chains Avalanche (Blizzard), Polygon, Rally, Tezos, established crypto and venture funds Decasonic, Drive Capital, Fenbushi Capital, Information Capital, LLC, Signum Capital, UOB Venture Management, Woodside Incubator and Brad Koenig, the former global head of Goldman Sachs Technology. As part of the round, Brad Koenig, who recently took data management solutions provider AvePoint public via SPAC, has joined the Kyro Digital Board of Directors. 

"While Crypto Coins, Tokens and NFTs, a digital certificate of ownership, have emerged as a $41B+ to start off 2022, we still have billions of people to onboard to crypto," said CEO and Founder Samir Arora. "Today, the market only caters to less than 1% of online consumers — mainly for art or collectibles. We see a world in which digital assets have more utility and that physical and digital utility applications are the gateway for IP owners to provide long-term functional value beyond the current offerings on blockchains."

For more information, please visit https://www.kyro.co/. 

Media contact:
Mike Paffmann
[email protected]

SOURCE Kyro