CARV raises $10M to build out modular data layer for gaming and AI

Image Credit: CARV

CARV, the company behind the modular data layer CARV Protocol, announced today that it has closed a $10M Series A funding round. The company plans to use the new funding to continue building out its data layer, which it has integrated with over 40 chain ecosystems and 700 games. CARV Play, it’s gaming superapp, currently has around 2.5 million users. CARV is also planning to launch its verifier node sale in the near future.

Tribe Capital and IOSG Ventures led the funding round, with Consensys, OKX Ventures, Fenbushi Capital, No Limit Holdings, Draper Dragon, Arweave and Netmarble among others. Past investors include HashKey Capital, Infinity Ventures Crypto, and Temasek Holding’s subsidiary, Vertex Ventures.

Boris Revsin, Tribe Capital managing director, said in a statement, “CARV stands out as a visionary in leveraging blockchain technology to enhance user agency and privacy in the digital realm. Their rapid growth and substantial user engagement speak volumes of their impact in the gaming and AI sectors. We are thrilled to support CARV’s journey as they continue to innovate and lead in the intersection of gaming and data.”

In addition to CARV’s Protocol, the company also offers the CARV Play gaming and social platform, the CARV Link service for data authentication, and CARA, its AI assistant that offers recommendations based on users’ data.

What’s next for CARV

In an interview with GamesBeat, CARV co-founder Victor Yu said that, in the short term, the company’s focus is on expanding CARV Protocol and promoting consumer adoption of CARV Play. However, they have a different long-term mission: “While gaming remains a critical focus, we envision CARV as the foundational infrastructure powering an equitable data economy across all sectors. This funding enables us to strategically grow our user base of quality data creators, refine tools for seamless individual data ownership and monetization, and cater to enterprise data consumption needs.”

Yu added that CARV’s mission is about giving control back to users: “For too long, the predominant model has extracted value from users by leveraging their personal data and accomplishments to fuel growth while offering little to no reciprocal benefits. We aim to flip this script. Our vision is an equitable online economy where users are truly empowered as stakeholders and participants, not just consumers.”

The company plans to continue expanding from this funding round, with plans to grow its creator base. It’ll also focus on making its data layer more scalable and seamless, says Yu. He also told GamesBeat, “Crucially, we’ll keep pushing transparency and UX boundaries, giving users unprecedented oversight into how their data gets utilized and ensuring equitable value sharing. CARV is charting the path for ethical, sustainable innovation, powered by billions of data creators rather than a handful of concentrated tech corporations. This raise is a major accelerant, but we’re truly just getting started.”