Vancouver-born Doodles today announced the closing of USD $54 million round at a USD $704 million valuation, a first round of financing led by Seven Seven Six, with participation from 10T Holdings, Acrew Capital and FTX Ventures.
Founded in 2021 by Dapper Labs alumni Evan Keast and Jordan Castro, along with world-renowned artist Scott Martin (Burnt Toast), the investment will enable Doodles to scale its growth strategy and monetize their IP globally through ventures in music, culture and entertainment industries.
Doodles recently appointed legendary musician and producer Pharrell Williams as Chief Brand Officer and Julian Holguin, the former President of Billboard, to lead the brand forward as Chief Executive Officer.
With expansion in mind, Doodles will be scouting top talent across various sectors such as creative, operations, and blockchain to help facilitate operations and streamline their roadmap. Additionally, Doodles will be funding product development via acquisitions and proprietary technology, media, and collector experiences.
“With this capital, we aim to continue developing a new generation of engaging experiences and content using blockchain technology, including NFTs,” said Doodles Chief Executive Officer Julian Holguin.
“We’re thrilled to have Seven Seven Six believe in our vision to build the largest and most coveted web3 media brand worldwide, bridging consumer, culture, and entertainment. Our mission is to redefine what it means to be a world class intellectual property.”
“We believe Doodles is developing the next digital frontier of how we experience and create content, unlocking the real value behind NFTs,” said Katelin Holloway, Founding Partner at Seven Seven Six. “Reimagining storytelling through the blockchain, Doodles is changing the way the world connects and interacts. We’re so excited to partner with Doodles and the team as they continue transforming what the next generation of entertainment and media looks like.”
Doodles’ board of directors include Evan Keast, Scott Martin, Jordan Castro, Julian Holguin, Katelin Holloway and Pharrell Williams. In the next six months, Doodles will launch several products, including their mainstream NFT experience meant for mass adoption.