MachineFi

MachineFi

About MachineFi

Simplify's Rating
Why MachineFi is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Rating Differentiation

Industries

Fintech

Crypto & Web3

AI & Machine Learning

Company Size

1-10

Company Stage

Seed

Total Funding

$9.7M

Headquarters

Los Angeles, California

Founded

2021

Overview

Company Does Not Provide H1B Sponsorship

Simplify Jobs

Simplify's Take

What believers are saying

  • MachineFi raised $50 million in Series A funding, boosting growth potential.
  • Integration of IoT with blockchain is gaining traction, supporting MachineFi's business model.
  • 5G technology enhances IoT connectivity, crucial for MachineFi's scalability.

What critics are saying

  • Competition from tech giants like Meta and Microsoft could overshadow MachineFi.
  • Rapid tech advancements may outstrip MachineFi's capabilities, risking obsolescence.
  • Regulatory scrutiny on blockchain and IoT data privacy could increase compliance costs.

What makes MachineFi unique

  • MachineFi connects IoT devices to the metaverse, creating new value exchanges.
  • The platform incentivizes IoT data collection through decentralized applications (dApps).
  • MachineFi's approach aligns with Industry 4.0, integrating IoT with blockchain for efficiency.

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Funding

Total Funding

$9.7M

Above

Industry Average

Funded Over

1 Rounds

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Above Average

Industry standards

$3.3M
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood
$10M
MachineFi

Benefits

Remote Work Options

Flexible Work Hours

Company News

VentureBeat
Nov 9th, 2022
New Blockchain Framework Connects Physical Devices To The Metaverse

Following the hype fueled by Meta’s (formerly Facebook) pivot last year, the metaverse has been gaining entry into more organizations and steadily moving on an upward trajectory. With COVID-19 accelerating digital transformation, enterprises are now more keen to adopt new technologies, even a nascent one like the metaverse. Having evolved from Neal Stephenson’s initial idea (from his 1992 novel Snow Crash), Web3 and the metaverse today offer several immersive opportunities that brands are keying into. According to Gartner, “enterprises will experiment with the metaverse, connecting, engaging and incentivizing human and machine customers to create new value exchanges, revenue streams and markets.” The metaverse’s market value over the next seven years is likely to be massive, with McKinsey estimating it will reach $5 trillion by 2030

The Economic Times
Jun 21st, 2022
MachineFi Lab announces Series A funding to raise $50 million

The latest round of funding announcement comes after the company raised $10 million seed round funding led by Samsung Next, Crypto.com, Hashkey Capital and Draper Dragon in June.

CoinDesk
Jun 7th, 2022
Draper Dragon invests into MachineFi in $10M

MachineFi Lab, which incentivizes the collection of real-world Internet of Things (IoT) device data through decentralized applications ( dapps ), has raised $10 million in a seed funding round led by Samsung Next, Draper Dragon Fund and Jump Crypto.

Samsung Next
Jun 7th, 2022
Samsung NEXT invests into MachineFi in $10M

Samsung NEXT invested in MachineFi Lab because Samsung NEXT think its platform has the potential to unify large-scale machine networks and to provide the infrastructure needed to enable each device to act as an autonomous market participant, providing incentives for consumers to help construct the network.

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