Tiger Global joins $12 million funding round for gamer infrastructure startup Lysto

Quick Take

  • Lysto has raised $12 million in pre-Series A funding from some high-profile investors. 
  • The firm provides tools for gamers to verify their credentials on a blockchain.

Lysto, a blockchain startup that is building verification tools for gamers, has raised $12 million in a pre-Series A funding round.

Sharing the news exclusively with The Block on Tuesday, Lysto said venture capital firms Square Peg, Beenext and Hashed co-led the round, with Tiger Global and Better Capital participating.

Angel investors, including Balaji Srinivasan (former Coinbase CTO), Paul Veradittakit (Pantera Capital partner), Binny Bansal (Flipkart co-founder) and Bobby Ong and TM Lee (CoinGecko co-founders) also backed the round.

As part of the deal, Tushar Roy, a partner at Square Peg, has joined Lysto's board of directors, Lysto's founder and CEO Sadiq Ahamed told The Block in an interview.

With fresh equity capital in place, Lysto plans to continue building its gaming infrastructure platform called proof of play protocol. "We are building a protocol that will help gamers digitize