Chronicled, Inc., a San Francisco, CA-based hardware and software platform for authentication, tracking, and social engagement around collectible and vintage sneakers, raised $3.425m in seed funding.
The round was led by Mandra Capital, a Hong Kong-based venture capital firm, with participation from Colbeck and San Francisco based Pantera Capital, an investor in blockchain technology.
The company intends to use the funds to build up its customer base, to implement an encrypted BLE tagging solution, and to expand its data and analytics capabilities.
Founded in September 2014, Chronicled is developing a platform for authentic products to be tagged, registered, verified, and transferred from a mobile app. The platform incorporates smart tags, an open registry, and a mobile app (available in the Apple App Store and Google Play Store) to document and guarantee product authenticity, ownership, and provenance.
To date, Chronicled has authenticated thousands of pairs of collectible sneakers and will be launching its authentication service in the NYC area in April 2016. The company is also actively exploring partnerships with sneaker brands to include authenticity chips at point of manufacture.