Nomyx, a digital asset management company using blockchain technology, has raised a $1.5 million round, led by RevRoad. Stellar Foundations and angel investors also participated in the round.
Provo, Utah, Dec. 23, 2024
Nomyx (Salt Lake City) has raised $1.75 million seed round, led by RevRoad Capital (Provo). Nomyx is a digital asset management company leveraging blockchain technology to tokenize financial assets. Initially targeted at $1.5 million, the seed round was oversubscribed by nearly 20%. Stellar Foundation (San Francisco) and several angel investors also participated in the round. Beyond the seed round, Nomyx secured additional funding from Plug and Play Tech Center (Sunnyvale, CA). Since joining the RevRoad services portfolio just four months ago, Nomyx’s valuation has increased 7.5x, solidifying its place as a key player in the fast-growing tokenization market.
Jeff Martin, managing director at RevRoad Capital, will join Nomxy’s Board of Directors. "We immediately saw the value in Nomyx's approach to real-world asset (RWA) tokenization and identity management. Their expertise in navigating the demands of financial and cybersecurity requirements is impressive. As blockchain evolves to focus on tangible assets, Nomyx is simplifying tokenization for financial institutions, making it highly accessible. We’re excited to support them in their journey,” said Martin.
Founded in February 2021, Nomyx has built a Tokenization-as-a-Service (TaaS) platform for mid-market asset managers. A no-code solution, Nomyx' platform helps managers issue, track, and manage diverse digital assets. The company says it simplifies blockchain complexities and accelerates settlement times from days to seconds, thereby expanding investor pools, boosting liquidity, and reducing transaction costs. Nomyx’s platform offers financial institutions a streamlined approach to tokenizing both real-world assets (RWA) and financial instruments. The company says its technology offers unmatched flexibility, ease of use, and efficiency—setting it apart from other tokenization engines on the market.
“The tokenization space is still emerging, and we have the unique opportunity to set the standard,” said Ubair Javaid, Founder and CEO of Nomyx. “The connections RevRoad Capital and the RevRoad services team have brought to the table are critical to scaling our business and strengthening our relationships within the financial sector. With financial and strategic backing from RevRoad Capital, Stellar, and Plug-and-Play, combined with hands-on support from RevRoad services, Nomyx is well-positioned to lead this transformation.”
As Nomyx expands, the fresh capital will be used to enhance its tokenization platform and further its reach within the financial industry.
For more information, please visit RevRoadCapital.com and Nomyx.io.