Dow Protocol raises $10.5M seed for e-commerce RWA platform

What's the deal? Dow Protocol, a real-world asset (RWA) platform for e-commerce operations, has raised $10.5 million in a seed round. MH VenturesDealroom has a profile for this one. Try Dealroom → and Mapleblock CapitalDealroom has a profile for this one. Try Dealroom → led the round, with Animoca Brands, Arcane GroupDealroom has a profile for this one. Try Dealroom →, Hashkey ChainDealroom has a profile for this one. Try Dealroom →, Essentia PartnersDealroom has a profile for this one. Try Dealroom →, and Quartet GroupDealroom has a profile for this one. Try Dealroom → participating.

What's the endgame? The company is building an RWA platform aimed at e-commerce operations, connecting on-chain finance with real-world commercial activity.

Why it stands out: The round is unusually large for its category. Against seed rounds in fintech based in the Cayman Islands over the trailing 48 months, Dow Protocol's raise sits in the 96th percentile of a 395-deal sample.

The signal: Investor appetite for tokenising real-world assets remains strong, and the presence of backers such as Animoca Brands and Hashkey Chain signals continued conviction in bridging crypto infrastructure with e-commerce.

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