DSTLRY has raised a $5 million seed round, to be used for additional content deals and new features for the company’s Digital Marketplace. The round was led by 1AM Gaming, a Santa Monica-based venture fund investing in game content, platforms, and technology. 1AM’s Gregory Milken has joined the board.
Milken was effusive in his praise of the founders. “David Steinberger and Chip Mosher are creative geniuses who are not just pioneering in the tech sphere, but also redefining the comics and digital collectibles industry,” he said in a statement accompanying the announcement. “They have an uncanny ability to find the new frontiers in technology and entertainment that empower the most vital storytellers and enrich the fan experience.”
The company has now raised a total of $7.4 million since its founding. Start-up investors Kodansha USA, Groupe Delcourt, John Schappert, Mike Vorhaus, and Lorenzo di Bonaventura (see “New Publisher DSTLRY“) also participated in the seed round.
Tech strategist Vorhaus noted the tough fundraising environment for start-ups. “Given the harsh environment for fundraising today, it is almost unheard of to see a startup secure such a substantial seed round,” he said. “This is the only startup I know of that has closed a round this big—during the AI boom—that didn’t have AI at the core of their business. David Steinberger and Chip Mosher, who previously collaborated on a successful venture ultimately sold to Amazon, have once again demonstrated their ability to navigate and thrive in challenging markets.”
Content and new marketplace features got the spotlight at San Diego Comic-Con, where DSTLRY’s SOMNA won an Eisner Award for Best New Series (see “Eisner Awards 2024“), and the company introduced two new features for its marketplace (see “DSTLRY Launching Features“).
Source: ICV2
