Announcing Our $5M Seed Round

We're on a mission to build trust in digital goods, and we've raised a $5M seed to accelerate this.

Announcing Our $5M Seed Round

Announcing Our $5M Seed Round

At Doppel, we’re on a mission to build trust in digital goods. Despite their explosive growth over the past year, NFTs are still plagued by fraud, scams, and counterfeits. We believe that in order for digital native goods to truly go mainstream, there needs to be infrastructure that ensures creators’ IP is protected and collectors can trust the goods they’re buying.

That’s why today we’re excited to announce that we’ve raised a $5M seed round – led by FTX Ventures and joined by an incredible group of builders and leaders in the space.

Our Journey

As big basketball fans, Rahul and I were fascinated by the prospect of owning a highlight when NBA Top Shot premiered. People have an innate desire for ownership, and NFTs enable that in a digitally native world. However, in practice, the concept of digital goods has been brittle, and the current levels of fraud, scams, and counterfeits put the entire ecosystem at existential risk. And so, we wanted to tackle the biggest barrier to the adoption of digital ownership.

In just a few months, we’ve built a real-time, cross-chain monitoring platform that detects NFT counterfeits for IP holders and marketplaces. We’ve been able to collaborate with some of the largest players in the space, including Dapper Labs, Yuga Labs, Magic Eden, and other yet-to-be-announced partners. It’s been a privilege to work with their IP, trust and safety, and community teams to make web3 a better place for creators and collectors.

Detecting counterfeits one flip at a time.

To solve this problem for our customers, we’ve indexed nearly 100 million NFTs across Ethereum, Polygon, and Solana and have already detected 37 million potential counterfeits. In the coming months, we’re going to be growing our coverage rapidly, covering Flow and other prominent blockchains. In addition to our in-house data infrastructure, we use cutting edge computer vision and AI models to generate comprehensive yet accurate counterfeit reports within 1 minute.

Our Investors

We’ve brought together an all-star roster of investors with great insight into both crypto and early-stage company building. We’re excited to partner with FTX Ventures as our lead — followed by Polygon Studios, Solana Ventures, OpenSea Ventures, Dapper Labs, SVAngel, South Park Commons, Script Capital, Spartan Group, Paxos, 6529 Capital, Quiet Capital, and AlphaLab Capital. In addition, we have an experienced group of founders, operators and angel investors in the round, including Balaji Srinivasan, Gokul Rajaram, Sabrina Hahn, Marc Bhargava, Sri Rao, and Snir Kodesh.

What's Next

Since starting Doppel a few months ago, we couldn’t be more grateful for all the support we’ve received (shoutout to South Park Commons) and the positive feedback we’ve received from our customers. Going forward, we will accelerate development on our product – establishing the best-in-class IP theft detection, tooling, and customer support required to protect IP and fight fraud for our customers. As we grow, we will expand our fraud detection capabilities to identify market manipulations, malicious smart contracts, and more. If you’re an NFT creator, marketplace, or a big brand looking for NFT trust / IP solutions, please reach out to us at team@doppel.com to book a demo. 

We’re also actively hiring for talented engineers who love building real-time distributed systems and ML infra at ridiculously large scale. If you want to grind and help build the next big thing, share why you’re an outstanding candidate at our job listing here or jobs@doppel.com – the Doppel gang is growing!

Best,

Kevin and Rahul
Co-Founders of Doppel

About the Author

Kevin Tian
CEO & Co-Founder

Building real-time, cross-chain monitoring platform for detecting NFT fraud and scams.