a social networking startup, announced Thursday that it had secured $3.45 million in the funding round and that the company intends to use the funds raised to expand its team and improve operations.
In the seed funding round, crypto venture capital firms and investors including Coinbase Ventures, FTX Exchange, OKX Blockdream Ventures, Solana Ventures, Formless Capital, Gemini Frontier Fund, Luno Expeditions, Huobi Ventures, Kraken Ventures and Roka Works were part of the round.
Taki was founded by Sakina Arsiwala and Kevin Chou, and the social networking platform aims to create a platform for artists, users, and crypto enthusiasts. The platform allows users to earn money by sharing content on the network and are rewarded with crypto tokens rather than likes or comments.
Sakina Arsiwala, co-founder of Taki, said, “Taki is a work of passion and a fusion of vision to bring a new dimension and meaning to social content consumption. We are happy that our investors see a great opportunity to expand the personal economy space with the power of crypto tokens. Taki is designed to be a secure, safe, and technologically superior product that enables social media enthusiasts to consume, invest, share, transact, and build a token-based content portfolio.
“Taki is the perfect platform for creators, who want to grow their network and enable the growth of their fan base as well. The booming creator economy is bringing more meaningful contributions to businesses as a whole in global markets. and shapes how content is monetized.”
The startup also introduces the concept of user coins ($UCOIN), and users can either earn through the $TAKI crypto token or individual user coins ($UCOIN).
Kevin Chou, Managing Partner at SuperLayer, said: “It is heartwarming to see such a positive start to an affirmative start. We express our deep gratitude to all of our investors who trusted our vision and helped us make it a reality. Taki’s journey to success will always be incomplete without their support.
The platform is currently by invitation only, but users can join the waiting list and follow the project on Twitter until public access is available.
Prior to this, the company received product design assistance and network support from the crypto firm, SuperLayer. The crypto company has also set aside a $2.5 million fund to recruit content creators and promote better platform engagement.