EtherMail Raises $4M to Expand Encrypted Wallet-to-Wallet Communication
EtherMail, a Barcelona-based Web3.0 company, announced on March 8, 2023, that it has raised $4 million USD in a pre-Series A funding round led by Tim Draper and Draper Associates via their official Twitter Handle (@ethermail_io). Founded in 2021, EtherMail is the first Web3 Email Solution that sets the standard for anonymous and encrypted wallet-to-wallet communication, allowing Web3.0 companies to send relevant content to their asset holders based on real-time blockchain information, and providing fully anonymous P2P communication to Web 3.0 users.
The $4 million USD raised in the recent pre-Series A funding round by EtherMail will be utilized to accelerate the rollout of their SSO (Single Sign-on Solution) and AMS (Advertising Marketplace Solution), as well as to drive recruitment and expand their market presence. Additionally, they plan to introduce a personalized protective layer that filters spam and provides incentives to users for receiving inbound advertising emails.
Earlier in August 2022, EtherMail raised $3 million in seed funding led by London-based VC firm Fabric Ventures and Berlin-based crypto investment firm Greenfield One. The company has since experienced rapid growth in user onboarding and established partnerships with popular NFT projects such as Probably Nothing, inBetweeners, Toxic Skulls Club, and Prime Planet. In November 2022, EtherMail facilitated Web3 voting for Decrypt Studios’ inaugural Crypties Awards held at Art Basel Miami. The company’s decentralized token-gated voting system enabled Decrypt Studios to receive over 64,000 sign-ups with a 40% vote cast rate by airdropping NFTs to their community.
EtherMail made an announcement in February 2023 that it had integrated with ENS (Ethereum Name Service) and Draper-backed Unstoppable Domains. This integration has allowed the company to offer personalized EtherMail addresses of the form “[email protected]“, replacing the long and complicated wallet addresses of the form “0x…[email protected]”. As a result, millions of registered UD and ENS users can now access the Web3 email solution, thereby expanding its reach.
EtherMail’s upcoming plans involve the launch of their own ERC-20 token, $EMT, which will be based on the Ethereum network. This novel token will serve as an incentivization tool, rewarding email users for their time and attention when reading unsolicited emails. This initiative aims to establish a framework for email economics, which is much needed.
