Capsule Corp Labs, a consulting and utility NFT company based in Biarritz, France, has received €7.3M in seed funding led by deeptech and Web3 industry experts.
Omnes Capital, REVAM, Digital Finance Group (DFG), and French business angels from the Web3 ecosystem each put in €4.8 million. The other €2.4M came from token sales by Ternoa, which is the parent company of Capsule Corp Labs.
According to the company, the funds will allow Capsule Corp Labs to speed up its development plans by making R&D stronger and adding to its 30-person team.
Clément Téqui, CEO of Capsule Corp Labs and co-founder of Ternoa, says, “We are thrilled to have been able to finish this fundraising with Omnes, a well-known player in the financing of Deep Tech projects that require large investments in R&D. By building a bridge between Web2 and Web3 architecture, we’ll be able to keep investing in the development of Web3 infrastructures for the future, even though the market is tough right now.
Getting ready for utility NFTs
Capsule Corp Labs, which started up in 2022, is the main company that puts Ternoa together. Ternoa is an open-source and decentralized layer-1 blockchain infrastructure that gives developers a framework for making their own utility NFTs.
NFTs have mostly done well as collectibles, especially in the art and luxury markets. Capsule Corp Labs, on the other hand, says that it changes the way people think about NFTs.
The company says it is at the forefront of NFT solutions because it offers a “Business-as-a-Service” model to Web3 start-ups. This model gives Web3 start-ups the people and technology they need to build NFTs, like developers and product managers.
It also lets other businesses use Web3’s value proposition and helps companies of all sizes build their business models on the Ternoa blockchain.
In the last six months, Capsule Corp Labs helped three NFT startups launch their products, which helped each of them earn several hundred thousand euros in revenue.
James Wo, the founder and CEO of DFG, says, “The idea of Business as a Service came from Web 2.0. Capsule Corp Labs takes this model and updates it to a Web3 style, making it easier for businesses of all sizes to create and launch NFTs products.” Since the beginning, DFG has had a strong belief in Ternoa. Its unique open source Layer 1 infrastructure encourages a risky ecosystem that makes utility NFTs possible. I am sure that Ternoa and its community will soon be in the lead if Mickael Canu and Clément Téqui are in charge.
Partnerships that last
Capsule Corp Labs started the blockchain project 20 Mint with the French newspaper 20 minutes. It helps Editis, a French company that is a leader in the publishing industry, figure out how NFTs can be used in the real world for its industry.
The company has also designed and built a way to send digital assets. This makes it possible for the Notaires de France’s technological endowment fund, not.IT, to store private NFT content. And Wonderbox, a company that makes gift boxes, has asked the company to start a project to change the way it works with its customers by using NFTs.
Téqui says Unlike the current NFT market, which works a lot like the art market and is based on scarcity value, we expect NFTs to have more utility value in the future.” At first, NFTs will be used to build things like video games, music, entertainment, and the metaverse. Gradually, they will be used in other industries as well. We are in charge of this complicated technological change from Web 2.0 to Web3.
Fabien Collangettes, Investment Director at Omnes Capital, said, “Ternoa is one of the very few French Layer-1 blockchains with a real underlying technological asset. With this investment, the Ternoa team will be able to give Web3 startups more and more features and become the best blockchain platform in Europe.