The Grid
Sector
Round Size ($USD)
$1,000,000.00
Post Valuation
$8,000,000.00
Stage
Existing Commitment
Deal Type
Deal Stage
Deal Status
Ecosystem
Founder Name
Deal Source
Min Investment
Discord Thread Link
Investment Memo / Deck
AMA
Deck
Data room
Date Approached
Oct 7, 2023
Description
Decentralized knowledge graph of on-chain businesses.
TGE date
Twitter
Description
Grid aims to create 'the' standard for all on-chain businesses. Think of it like a company passport for all off-chain activities with verifiable credentials on-chain. Grid aims to capture the growing compliance pie as the industry works towards a common standard.
Focusing on qualitative data points not quantitative data (i.e. the graph).
Problem:
- 2-12 ft employees
Phases:
1) Building core team - build MVP
2) 20-person team - (5-10 in India)
- build a team in India
Business Model
- Data API - data platforms pay for data set (start-ups / public good free, messari / nansen - $100k year, Bloomberg $1mm year)
- Blockchain projects - pay for verifiable credential
Traction
- Coinbase - standard taxonomy
- Slide 12
Go-to-Market
- Onboard initial data platforms / ecosystems
- Build trust with projects
- Onboard larger platforms
- Expand width of data
Founders
Deal
$1mm at $8mm SAFE pre-seed
Data providers on cap table
Deck
Feedback
Investment Memo