Calaxy Raises $26M in Funding


Calaxy, a Los Angeles, CA-based open social marketplace built for creators, raised $26m in strategic funding.

The HBAR Foundation and Animoca Brands co-led the raise, with additional support from Polygon.

The funds will be used by the company to expand its operations and to support its development efforts.

Co-founded by tech entrepreneur Solo Ceesay and NBA star Spencer Dinwiddie, Calaxy is an application layer, open social marketplace for creators to interact with their fans in one place and rewards fans for their engagement. The Creator’s Galaxy protocol that it’s built on – a decentralized, permissionless protocol with open-source governance – already has a total coin market cap of over $500 million. The protocol is powered by the $CLXY token, of which one billion were minted in April 2022. The recent public and private sale of the $CLXY token provides greater distribution of protocol governance within The Creator’s Galaxy and will accelerate growth and support the expansion of the ecosystem ahead of the highly anticipated launch of Calaxy App this summer.

This strategic funding round follows Calaxy’s $7.5 million seed funding raise in 2021, which was supported by Animoca Brands, Red Beard Ventures, ArkStream Capital, NGC Ventures, and Genesis Block Ventures, with support from NFL star Ezekiel Elliott, The Bachelor’s Matt James, former Head of Blockchain Strategy at PayPal Jonathan Padilla, NFL player Larry Ogunjobi and NBA coach Luke Walton.

Get latest news from African Startup ecosystem

Latest stories

You might also like...