NFT counterfeit detector MarqVision raises $20 million in Series A funding

Quick Take

  • DST Global Partners, Atinum Investments, Softbank Ventures, Bass Investment and Y-Combinator participated in this funding round.
  • MarqVision uses AI to spot and remove counterfeit physical and digital products on over 1,500 online marketplaces.

MarqVision, a startup that detects and removes counterfeit products using AI, announced Tuesday that it raised $20 million in Series A funding.  

Investors in this round include DST Global Partners, Atinum Investments, Softbank Ventures, Bass Investment and Y-Combinator, according to a release sent to The Block.  

MarqVision’s counterfeit detection spots counterfeit items for not only physical items but non-fungible tokens (NFTs) on over 1,500 online marketplaces. Thefts, plagiarism and fakes regarding NFTs are a frequent subject of complaints on crypto Twitter and are often seen on the world’s largest NFT marketplace, OpenSea.  

With this new funding round, MarqVision intends to bolster its product development to further protect intellectual property (IP) for brands and content creators.  

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“With this new round of funding, we can accelerate our mission of building the world’s first IP operating system to give brand owners full control of their IP portfolios," said Mark Lee, co-founder and CEO of MarqVision, in a statement.

Many fashion brands such as Prada have eyed the blockchain spaces as a way to verify products and avoid counterfeits, The Block previously reported. 


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.