Carv, a platform empowering web3 gaming and AI companies, as well as gamers, to control and monetize their data, has secured a significant milestone with a $10 million Series A funding round led by Tribe Capital and IOSG Ventures.
This Series A round follows a strategic investment led by HashKey Capital just five months ago. While Carv has not disclosed its current valuation or total funding, it was valued at around $40 million in 2022 during its seed round led by Temasek’s VC arm, Vertex Ventures.
Initially targeting the gaming and AI sectors, Carv aims to empower users to control and monetize their data in compliance with privacy regulations. By providing their data to Carv’s corporate clients, users can benefit financially from its usage in areas such as AI model training and market research.
Victor Yu, co-founder and COO of Carv, emphasized the importance of empowering individuals to share in the economic value created by their data. Carv offers three main solutions: CARV Protocol, CARV Play, and CARV’s AI Agent, CARA, catering to data ownership and monetization while fostering data portability.
One of Carv’s distinguishing features is its commitment to user-centric data ownership and monetization, with revenues shared back to data creators. The company’s profitability since December 2023 and monthly recurring revenue exceeding $1 million reflect its strong market traction. Currently, Carv boasts 2.5 million registered users and partnerships with over 350 gaming and AI companies.
With the Series A funding, Carv plans to enhance the scalability of its CARV Protocol, launch CARV Link for improved on-chain identity and data authentication, and introduce CARV Database for managing various user data types. The funding round saw participation from prominent investors including Arweave, Consensys, Draper Dragon, and Fenbushi Capital, among others, signaling strong industry support for Carv’s mission.
