Liberty City Ventures leads Zigazoo's $17M funding round

Zigazoo raised $17 million in a Series A funding round led by Liberty City Ventures.

Why it matters: Investors remain committed to a web3 future. This now brings the company's total funding to over $21 million raised to date, following a $4 million seed round last year.

State of play: As Axios exclusively reported in April, Zigazoo debuted its first kid-friendly NFTs from Nyla Hayes, Moonbug Entertainment — known for "CoComelon" and "Blippi" — and digital animation studio Invisible Universe.

• Zigazoo sold out all four of its NFT drops —22,300 different NFTs in total. Prices for each ranged from $5.99 to $49.99.
• Founded in 2020 by two former elementary teachers, Zak and Leah Ringelstein, the company views itself as an educator about web3 and NFTs for children, in addition to a "kid-safe" social media network.

Details: Zigazoo will use the funding to add more web3 experiences.

• Additional investors include Causeway (whose partners include owners from the Boston Celtics and San Francisco 49ers), the NBA, Dapper Labs, OneFootball, Medici VC, Animoca Brands, Lightspeed Venture Partners, Flamingo Capital, Core Ventures, Spartan Group and TikTok stars Charli and Dixie D'Amelio.
• "The future of Web3 will be shaped by the children of today, as their creativity expands the range of what is possible," Emil Woods, founding partner of Liberty City Ventures, said in a statement.