December 11, 2024
Spicenet, a Web3 platform dedicated to building community-driven projects, has successfully closed a $3.4 million Seed funding round. The round was co-led by Hack VC and Magnus Fund, with participation from a diverse group of investors. Additional support came from prominent venture funds, including TPC Ventures, Public Works, WAGMI VC, DoraHacks, Pops Team, and Rollup Ventures. The round also saw contributions from over 200 angel investors, further reinforcing Spicenet’s commitment to its community-centric vision.
Launched as a platform aiming to empower developers and creators within the Web3 ecosystem, Spicenet has attracted attention for its focus on community involvement in project development. The participation of more than 200 angel investors, including notable figures such as Tekin Salimi, GPL_94, and SmokeyTheBera, highlights the strong grassroots support the platform has cultivated since its inception. Additionally, three groups from EchoDot.xyz also joined the fundraising initiative, adding further weight to the project’s expanding network.
Spicenet’s leadership team expressed gratitude for the support from its investors and community, acknowledging key individuals such as BatuX, Comfy Capital, and Zmanian for their facilitation of the funding process. The company remains dedicated to its community-first approach, a core principle that will guide its future growth and development within the Web3 space.
About Spicenet
Spicenet is a Web3 platform designed to foster the growth of community-driven projects, allowing developers, creators, and users to collaborate within decentralized ecosystems. The platform prioritizes transparency, inclusivity, and direct involvement from its community members. By providing tools and infrastructure for building Web3 applications, Spicenet seeks to create a sustainable and engaging environment for all stakeholders.
Website: https://www.spicenet.io/
X: @spicenetio
About Investors
Hack VC
Hack VC is a venture capital firm specializing in early-stage investments in the Web3 ecosystem. It focuses on identifying and supporting transformative projects in blockchain, cryptocurrency, and decentralized technologies.
Location: San Francisco, California
Website: hackvc.com
Magnus Fund
Magnus Fund is a venture capital firm that supports high-potential Web3 startups. It is dedicated to fostering innovation in decentralized finance, NFTs, and other blockchain-related technologies.
Location: Amsterdam, Netherlands
Website: https://magnuscapital.com/
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