Home Blockchain Dragon’s Den tycoon Steven Bartlett raises £20m for blockchain venture

Dragon’s Den tycoon Steven Bartlett raises £20m for blockchain venture

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Dragon’s Den tycoon Steven Bartlett raises £20m for blockchain venture
Steven Bartlett (third web)

Steven Bartlett (third web)

A Dragon’s Den tycoon who dropped out of college has raised $24m (£20m) to fund a new block chain company in a deal that values ​​the business at £136million.

Steven Bartlett, 29, started the tech company, called thirdweb, alongside co-founder Furqan Rydhan after deciding there wasn’t enough digital Infrastructure to help start-up build their own blockchain technology platforms.

Bartlett told The Standard: “Before thirdweb, if you’re a developer, you had to learn a new coding language and it might take you a year or two to build an app. Using Third Web, you can create an application with just a few clicks.

“When there’s a gold rush, you have people panning for the gold or you have people making the shovels.”

The funding round was led by Haun Ventures and includes commitments from the e-commerce platform Shopify and crypto Coinbase Ventures company. Lead investors in the company’s first round of seed funding include serial entrepreneurs Gary Vaynerchuck and Mark Cuban. Cuba is one of the 600 richest people in the world with a wealth of £3.9 billion, according to Forbes.

“I think it’s fair to say that myself and Furqan as founders with the track records that we have, we could have funded thirdweb ourselves, but the strategic support we get now from those partners is even more important to us than capital itself,” Bartlett said.

Blockchain technology and the crypto companies that operate on it have sparked controversy in recent months, with a record high of £1.6 billion. cryptocurrency stolen in service hacks in the year to July 2022, according to blockchain platform Chainalysis, as organized online criminals and nefarious state actors exploit vulnerabilities in decentralized finance. Bartlett was not put off by these reports.

“The core blockchain technology is incredibly secure. I think in web1 or web2 or web3 there will always be vulnerabilities in systems and technologies and I think web3 as a technology actually solves tons of security issues,” he said. declared.

Bartlett rose to fame after joining the BBC show Dragon’s Den in January as the show’s youngest Dragon. The entrepreneur won over thousands of listeners with his “Diary of a CEO” podcastin which he interviewed the likes of former Health Secretary Matt Hancock and Coinbase founding billionaire Brian Armstrong.

“If Dragon’s has taught me anything, it’s that people invest in people and so I always keep that in mind whenever I raise money for my own businesses,” he said.

Bartlett first achieved major business success with his social media company Social Chain, which he co-founded in 2014. The company merged with German firm Lumaland before listing on the German stock exchange in 2019, valuing the company to more than $200 million.

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