Samudai, a decentralized autonomous organization (DAO) platform for managing and building communities in the Web3 ecosystem, today announced that it has closed a pre-Seed financing round of $2.5 million, to continue growing the team, accelerate development, and bring its platform to market.
The heavily oversubscribed round includes the participation of well known investors including FTX Ventures, Sino Global Capital, A&T Capital, Coinbase Ventures, Lunar Ventures, NxGen, Paradigm Shift Capital, DWeb3 Capital, Builders Tribe, and Superteam DAO, according to a press statement.
The company also secured funding from several notable operators and angel investors including Balaji Srinivasan (former CTO, Coinbase), Charles Songhurst (Serial Investor), Sandeep Nailwal (Polygon), Harsh Rajat (EPNS), Tamar Menteshashvili (Solana), Devfolio, Akshay BD (Superteam DAO), Tanmay Bhat (Superteam DAO), Mayur Relekar (Arcana), Jennifer Tran (Mintgate), Dermot O'Riordan (Unstoppable), Nelson Ryan (Unstoppable), and others, it said.
The Samudai platform will enable customization levels and facilitate large-scale coordination and executions among DAOs. Samudai is planning a full productivity suite for DAOs, including a Web3 native project management framework, team graphs, and an analytics dashboard, along with building a roster of talented Web3 professionals to facilitate collaboration with a proprietary and verifiable reputation metric called “Bushido.”
Samudai, which means “community” in Hindi, was founded in 2022 and incorporated in Singapore by Kushagra Agarwal and Navin, who met in college and have been working together for over five years. The company operates globally and remotely.
“We’re grateful for the support of such well-known investors in innovation which will help us make it easier for DAO Admins and Contributors to nurture a healthy work-life while advancing global coordination in this industry,” said Samudai Co-Founder Navin. “We believe work culture can make DAOs great and defensible, but admins and members are presently spending too much time on operational issues. To remedy this, we have designed a platform that gives DAO teams and contributors a better view of how contributors are interacting and, most importantly, will improve productivity by gathering all the operations in one place and simplifying the process.”
Samudai plans to launch a private alpha version of its platform to a small group of users this Summer, around mid-July, with a public beta phase later in 2022.
