Singaporean data management startup Inery bags funding from Metavest at $128 million valuation
Inery, a Singapore-based decentralized data management and blockchain solution startup has announced that it received fresh funding from Metavest, a web3-focused VC firm, at a $128 million valuation in the first week of September.
- The raised funds will be used to expand its use cases, especially GameFi where it seeks to explore the full potential of the booming gaming industry with verified digital asset ownership. The startup aims to also build a space for its users to create and share NFTs.
- Inery use cases are applicable to varying sectors including government enterprises, aviation, GameFi, healthcare, and the metaverse. It provides a potential cross-chain solution for users to interact with their data assets in the entire metaverse domain, using its DB solution.
- Inery is a decentralized data management system bringing DB to web3. The startup provides low-cost, reduced latency, secure, and tamper-resistant ways for data management. The core of Inery's solution is to ensure that users, including gamers and businesses, can retain control of their data in the metaverse through owner-controlled data assets.
- With branch offices in Switzerland, the United Arab Emirates, and Serbia, Inery aims to launch its solution after the first public testnet it had in August and would roll out its token by Q3 end of 2022, it claims.
