RevRoad Leads Nomyx $1.75M Seed Round

Nomyx was featured by Utah Business in a RevRoad Capital announcement covering Nomyx’s $1.75 million seed round.

The round was led by RevRoad Capital and was initially targeted at $1.5 million before being oversubscribed by nearly 20%. Stellar Foundation and several angel investors also participated in the round, while Nomyx secured additional funding from Plug and Play Tech Center.

The announcement also noted that Nomyx’s valuation increased 7.5x after joining the RevRoad services portfolio four months earlier.

Supporting Nomyx’s Tokenization Platform Growth

The Utah Business release highlighted Nomyx’s approach to real-world asset tokenization, identity management, and blockchain-based financial asset infrastructure.

According to the announcement, Nomyx’s platform gives financial institutions a streamlined way to tokenize real-world assets and financial instruments while simplifying back-office processes and improving transparency.

Ubair Javaid, Founder and CEO of Nomyx, said the tokenization space is still emerging and that the backing from RevRoad Capital, Stellar, Plug and Play, and RevRoad services supports Nomyx’s ability to scale and strengthen relationships across the financial sector.

The release states that the fresh capital will be used to enhance Nomyx’s tokenization platform and further its reach within the financial industry.

Read the original Utah Business release:
https://www.utahbusiness.com/press-releases/2024/12/23/revroad-capital-nomyx-seed-round/