This year could be a big year for Web3 startups, especially in Africa, with the announcement of Nestcoin’s $6.45 million pre-seed round.
The startup focused on creating and investing in Web3 and crypto-focused products, announced the raise today, February 1, 2022.
Pan African venture capital firm 4DX Ventures backed the funding round with participation from Serena Ventures, launched by world-renowned American athlete, Serena Williams, among other investors.
There was also an array of crypto and blockchain-focused VCs such as New York-headquartered CoinFund, which has investments in the popular NFT marketplace, Rarible, and Polkadot, one of the biggest blockchain networks.
Blockchain and cryptographic asset fund, gumi Cryptos Capital, also invested in Nestcoin’s pre-seed.
This pre-seed funding comes three months after Nestcoin’s official launch in November 2021. The investment will be used to accelerate its mission of driving adoption and helping Africans create wealth through crypto.