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Apple Alum-Led Kyro Digital Raises $10M in Series A Funding
Decasonic, Drive Capital and Fenbushi Capital provided strategic investments, as did native crypto venture funds associated with the Avalanche, Polygon and Tezos chains.
By Sam Reynolds
Updated May 11, 2023, 4:07 p.m. Published Feb 10, 2022, 5:00 p.m.
Kyro Digital, which says it is building infrastructure to create crypto-enabled storefronts for non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs), has closed a $10 million Series A funding round.
- Kyro is blockchain agnostic, supporting multiple protocols, and as such the round saw participation from crypto venture funds from the Avalanche, Polygon, Rally and Tezos chains. Decasonic, Drive Capital and Fenbushi Capital provided strategic investments.
- Users will be able to build more utility into their NFTs using its platform, Kyro said, creating digital utilities such as rewards programs, event tickets and memberships.
- Kyro’s founder, Samir Arora, worked at Apple for nearly a decade, where he developed platforms for distributed applications, a precursor to layers 0 and 1 of blockchain technology. Arora was also the CEO of NetObjects, one of the first companies to offer a website editor, from 1995 to 2002.
- “We still have billions of people to onboard to crypto,” he said in a press release. “We see a world in which digital assets have more utility and that physical and digital utility applications are the gateway for IP owners to provide long-term functional value beyond the current offerings on blockchains."
- At the first-ever web innovator awards in 1997, CNET called Arora one of the 21 Internet Pioneers that shaped the World Wide Web.
- Brad Koenig, the former global head of Goldman Sachs Technology, also participated in the round. As part of the round, he will join Kyro Digital’s board of directors.
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알아야 할 것:
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- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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JPMorgan Pushes Deeper Into Tokenization With Galaxy's Debt Issuance on Solana
Galaxy’s onchain debt deal, where JP Morgan acted as arranger, was settled in USDC stablecoin and backed by Coinbase and Franklin Templeton.
알아야 할 것:
- J.P. Morgan arranged Galaxy Digital’s commercial paper issuance on the Solana blockchain, one of the first of its kind in the U.S.
- Coinbase and Franklin Templeton bought the short-term debt instrument, settled in USDC
- Tokenization of real-world assets is gaining traction, with projections suggesting the market could reach $18.9 trillion by 2033.
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