Web3 Startup EPNS Raises $10 Mn Funding From Jump Crypto, Tiger Global, Polygon And Others

Known for offering web3 push notifications, Mumbai-based Ethereum Push Notification Service (EPNS) has closed $10.1 Mn in Series A funding at $131 Mn valuation. Led by Jump Crypto, the round also saw participation from 25 other investors including Tiger Global, Polygon Studios, Sino Global Capital and Zee Prime Capital.

With this, the total funding raised by EPNS now stands at $11.42 Mn. The company had earlier raised $1.4 Mn in Seed funding from around 35 investors including names like Binance Labs, Balaji Srinivasan (angel investor and former CTO of Coinbase) and Mariano Conti of Maker Foundation.

Founded in April 2020 by Richa Joshi and Harsh Rajat, EPNS is building an open communication layer for the Web3 ecosystem. The protocol enables any smart contracts, dApps, or traditional servers to send notifications tied to user wallet addresses in a platform-agnostic fashion.

Harsh Rajat informed that talks for the fundraise with investors started in mid-November, 2021 and the deal was finalised by January 2022. However, it was the paperwork which took a little longer, Rajat said.

On the funding, he explained, “The previous investors were more Ethereum centric and so was our first product which went live on mainnet, back in January, 2022. However, we plan to launch our services on all popular web3 blockchains, and that’s why Series A investors are more blockchain agnostic.”

EPNS Plans To Launch Its Services On Polygon Soon

Having launched on Ethereum mainnet in January, this year, EPNS is currently working with around 80 protocols including the likes of Uniswap, Decentraland, MakerDAO, Gitcoin, Polygon, ENS, Dydx, Bancor, Defiant, Coindesk, Aragon, Notional Finance, mStable, Snapshot and more. The company is building the native Web3 communication protocol to enable users to speak to one another on-chain. EPNS enables permissionless channel notification and channel subscription along two categories of users: Channels (individuals or companies that wish to issue communication) and Subscribers (individuals that opt-in to receive communication).

Currently, EPNS is powering on-chain notifications for ENS (domain expiration), CoinDesk (media alerts), Snapshot (governance updates), Oasis (vault liquidation), and more.

The company planned to launch its services on four more blockchains by this year end. “We are very aggressive. We are going to launch on Polygon very soon, and thereafter on Binance, Harmony and then Solana.”

“All of this we plan to achieve by this year-end,” Rajat added.

Targets 1 Mn Users By Year-End

Since mainnet launch in mid-January, EPNS has powered 4 Mn notifications sent to more than 44,000 subscribers.

With Series A funding, the company is planning to double its talent pool from the existing 30 to over 60 by year end.

Besides, Rajat said the company is also aggressively targeting to hit one million users by year end. For this, it has already expanded its offices outside India and set up an office in Dubai.