Wilmington, Delaware--(Newsfile Corp. - July 30, 2024) - SkyTrade, a pioneering air rights startup is thrilled to announce its pre-seed funding round. The round was co-led by Modular Capital and Portal Ventures, with participation from Solana Foundation and Emergent Ventures at the Mercatus Center.
SkyTrade Announces Pre-Seed Raise
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The round also saw notable angel investors join, including Santiago Roel (Ex-ParaFi), Jason Yanowitz (Co-founder Blockworks), Scott Moore (Co-founder Gitcoin), Jeff Feng (Co-founder Sei Labs), Adam Gries (Vitalism), Helen Chen (Nomad Homes) and more.
"We are excited to back SkyTrade as they bring the massive and opaque air rights market worth $30T on-chain. Whether buying, selling or renting air rights, SkyTrade will unlock novel use cases across multiple industries." said Vincent Jow, Managing Partner at Modular Capital.
Evan Fisher, General Partner at Portal Ventures, expressed his enthusiasm for SkyTrade's approach, stating, "SkyTrade takes a refreshing approach to crypto and real-world assets (RWA). Jonathan is using crypto rails to streamline the transfer of value and trust in a truly blue ocean market - tokenized air rights."
About SkyTrade
SkyTrade is revolutionizing the air rights market by building the world's first Air Rights Marketplace. This innovative platform allows property owners, real estate companies, and traders to efficiently monetize and trade air rights. Real estate owners can "claim" the airspace above their properties. These assets can then be traded. Air rights owners can also earn passive income from commercial drone operators who need to utilize private airspace to expand their drone delivery ambitions.
SkyTrade Marketplace enables users to rent airspace.
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SkyTrade has launched the SkyTrade Radar app, which helps property owners to track drone activity in their airspace. The app features real-time monitoring, allowing users to manage their airspace effectively.
In addition, the platform is set to deploy its Auction House. This feature enables airspace owners to list their air rights, and traders to make offers for air rights parcels, bringing price discovery, increasing real estate capital valuations and creating liquidity in a very opaque market.
Join the Waitlist
Get early access to the Air Rights Marketplace by signing up today to the waitlist. Be part of the future as SkyTrade brings the air rights marketplace to a global audience.
"We are thrilled to have the support of industry-leading investors who share our vision for transforming the global air rights market to meaningfully impact society," said Jonathan Dockrell, CEO of SkyTrade. "The funding will allow us to accelerate our product development and expand our team to bring SkyTrade to a wider market."
For more information, please contact:
Kristine Labanon, Public Relations
SkyTrade
press@sky.trade
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