Huddle01 raised a $2.8 million seed round led by Hivemind, with participation from other reputable funds and strategic angels, bringing years of experience in areas such as webRTC, cryptoeconomics, security, growth and business.
Huddle01 Raises a $2.8M Seed Round Led by Hivemind
This influx of capital will help accelerate the growth of recruitment efforts and infrastructure, increasing leverage to better support developers looking to create sustainable products. This will allow to expand expertise in engineering, research, growth, partnerships and more that share the vision and support the mission.
VC: Hivemind, M31 Capital, Protocol Labs, East VC, Longhash Ventures, Good News Ventures, SuperScrypt, Consensys, Fenbushi Capital, HashKey, Kernel Ventures, LD Capital
Angels: Juan Benet, Preethi Kasireddy, Xinshu, Balaji Srinivasan, David Dias, Eric Tang, Arjun Kalsy, Kartik Talwar, ZX, Vinny Lingham, Dave Rodman, Doug Petkanics, Dan Romero, Pareen Lathia, Raghu Mohan, Prashant Maurya, Stani, Jinwoo, Furqan Rydhan, Ryan Li, Marat.
Huddle01 builds a human-powered communication network to provide a space for users to interact and collaborate in a more secure and immersive way. The team believes there is great potential in this sector and the company will revolutionize the massive global video conferencing market which is expected to reach $14.58 billion by 2029 with his CAGR of 11.3%.
Huddle01 believes decentralization should be a slider, not a switch. Using demand-driven approach, Huddle01 plans to create sufficient demand for its infrastructure to ensure that if it incentivizes the network to become a self-sustaining and self-propelled ecosystem with better performance, privacy, and cost compared to centralized incumbents.
The 3-pronged approach includes a video meeting platform, a/v infrastructure, and the dRTC network. The platform has already clocked in 1 million+ minute of meetings. The infrastructure (developer SDKs) has over 100 projects built on top of it to date with use cases ranging in live video commerce, social, gaming, education, and metaverse. Huddle01’s plug-and-play infrastructure allows developers to focus on building applications without worrying about the complexities of real-time communication. It provides end users with a seamless, uninterrupted communication experience.
The company’s vision is to build the first human-powered communication network that is more sensitive and responsive to user needs. The bottom-up approach to business has allowed to not only accelerate innovation, but also reach a wider audience and build relationships with great builders and companies.
The platform has a lot coming up. For example, it has a grant program that gives developers the opportunity to build breakout applications, hackathons, new features and integrations, and much more.
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