Crypto fantasy GameFi project Kandle raised $1.7 M Seed funding from Saama
A crypto-fantasy GameFi project called Kandle.xyz has raised $1.7 million in a seed round that was headed by Saama Capital. Along with other individual investors from the gaming and financial services sectors, the round also included participation from PointOne Capital, Cloud Capital, Good Capital, Founder’s Room, Seeders Fund, and Sumit Gupta (CEO- CoinDCX).
Using its flagship product, Crypto Fantasy Leagues, the platform will be further developed and its user base will be increased, according to Kandle.
In addition to Indonesia, Vietnam, Nigeria, and India, Kandle also intends to increase its presence throughout North America and Asia.
Jaideep Yadav founded the startup, which offers cutting-edge fantasy games using cryptocurrency in which players compete for prizes. On the topic of token issuance, token utility, and a play-and-win model, Kandle intends to publish its project roadmap.
The platform claims to have successfully finished beta testing over the past few months and attracted over 80,000 players during the soft launch.
Crypto fantasy leagues and play-to-earn formats are just two of the games that Kandle has released. According to the company, its product roadmap includes additional games based on user feedback.
Several businesses, including Paytm, Snapdeal, Sula Wines, Veeba Foods, Chai Point, EazyDiner, The Moms Co., Lendingkart, Vistaar Financial Services, Fisdom, Mezi, Zeni, and Beans.ai, have received funding from early-stage venture capital firm Saama.
