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Enjinstarter has raised $10.0M across 2 funding rounds.
Key people at Enjinstarter.
Enjinstarter was founded in 2021 by Prakash Somosundram (CEO & Co-founder).
Enjinstarter has raised $10.0M in total across 2 funding rounds.
Based in Singapore, Enjinstarter operates as a blockchain launchpad, incubator, and advisory platform that facilitates crowdfunding for Web3 startups, content creators, and developers. The organization initially focused on play-to-earn gaming and metaverse applications built on the Enjin network before expanding its scope to include artificial intelligence and infrastructure projects like Carbon and ChainGPT. The platform generates capital through its proprietary token sales while providing a structured environment for emerging digital asset projects to conduct initial coin offerings and public sales. To date, the firm has secured approximately $12.5 million in total funding and supported more than 60 portfolio projects that have collectively raised over $10 million. Following the recent cryptocurrency market downturn, the company also diversified its operations by introducing climate finance initiatives through its new AYA launchpad. Enjinstarter was officially founded in 2021 by Prakash Somosundram.
Enjinstarter was founded in 2021 by Prakash Somosundram (CEO & Co-founder).
Enjinstarter has raised $10.0M in total across 2 funding rounds.
Enjinstarter's investors include 355 Capital, Animoca Brands, CVentures, Sunset Ventures, True Global Ventures, Infinity Ventures Crypto, Seed Club Ventures, Symbolic Capital.
Key people at Enjinstarter.
Enjinstarter serves developers, startups, and investors seeking capital raises and community building, solving key challenges like blockchain interoperability and investor access through smart contracts, a 12-week incubation program, and connections to CEXs, market makers, and events.[2][3] Its growth momentum includes successful launches like ChainGPT and PairedWorld, positioning it as a top IDO platform for niche Web3 verticals.[1]
Enjinstarter was founded on October 4, 2021, by Prakash Somosundram (experienced blockchain/fintech advisor) and Alvin Tang (CTO and seasoned software engineer).[2] The idea emerged to bridge gaps in Web3 funding for GameFi and Metaverse projects, leveraging Enjin technology to connect developers with investors and enable multichain strategies amid rising demand for blockchain gaming and virtual economies.[1][2][3]**
Early traction came from its incubator program for MVP-stage projects, rapid IDO executions, and partnerships that addressed network silos and fundraising barriers, evolving into a full ecosystem with over 50 funded projects and a metaverse office in Bloktopia.[1][3][4] Pivotal moments include 2023's high-ROI AI launches and expansion into Web2-to-Web3 transitions, solidifying its role in decentralized crowdfunding.[1][2]
Enjinstarter rides the Web3 gaming and Metaverse boom, capitalizing on explosive growth in GameFi (play-to-earn), AI-blockchain integration, and virtual worlds where traditional funding falls short.[1][2] Timing aligns with post-2021 crypto maturation, multichain adoption, and Web2 firms eyeing NFTs/Metaverses amid interoperability demands—market forces like rising IDO popularity and Enjin ecosystem synergies favor its model.[1][3]**
It influences the ecosystem by democratizing access for early projects (e.g., via 50+ IDOs), fostering community-driven power shifts, and accelerating MVPs to global scale, reducing barriers for non-VC-funded innovation in a $100B+ gaming crypto space.[2][3][4]
Enjinstarter is poised to expand its 50+ IDO portfolio into more AI-Metaverse hybrids and Web2 transitions, leveraging multichain trends and Enjin upgrades for higher throughput.[1][2] Incoming shapes include AI-driven project vetting, deeper CEX integrations, and metaverse event dominance amid regulatory clarity in Web3 gaming.[3] Its influence may evolve toward a full-stack Web3 studio hub, amplifying ROI leaders while community governance via EJS cements decentralized leadership—reinforcing its launchpad edge in an maturing ecosystem.[1][4]
Enjinstarter has raised $10.0M across 2 funding rounds. Most recently, it raised $5.0M Series A in January 2022.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Sep 7, 2022 | Smobler Studios | $1.2M Seed | — | Manav Gupta, Prakash Somosundram, Sebastien Borget |
| Dec 2, 2021 | RaceFi | $2.9M Seed | Basics Capital, Eric Su, Genblock Capital, Shima Capital, Solar Eco Fund, X21 Digital | Alpha Moon Capital, Asteroid Capital, AV Star Capital, IDO Research Ventures, KiwiGROUP, Magnus Capital, Master Ventures, Steven Lee, R-930 Capital, SolRazr, Titans Ventures, ZBS Capital |
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2022 | $5.0M Series A | 355 Capital, Animoca Brands, CVentures, Sunset Ventures, True Global Ventures | |
| Oct 1, 2021 | $5.0M Seed | 355 Capital, Animoca Brands, CVentures, Infinity Ventures Crypto, Seed Club Ventures, Sunset Ventures, Symbolic Capital, True Global Ventures |
