NFT startup Revise raises $3.5 million funding led by AlphaWave Global, 8i Ventures

Mumbai: Nonfungible token (NFT) programming layer Revise has raised $3.5 million in a funding round led by AlphaWave Global and 8i Ventures. A clutch of angels also participated in the round including Sandeep Nailwal, cofounder, Polygon, Utsav Somani, partner, AngelList, and Rahul Chaudhary, cofounder, Treebo. Bharat Founders Fund, a group of founders and senior executives from several startups have also invested in the round.

The funds will be used for hiring and expansion.

Revise was founded by Anil Dukkitpatty and Raunaq Vaisoha in January 2022. They previously founded Elemential Labs, a blockchain startup that worked with large enterprises such as the National Stock Exchange (NSE), ICICI Bank, among others.


Revise offers developers the rails to programme NFTs and interact with applications and data. This takes NFTs from static images to interactive objects which can react to applications and real-world events.

Vaisoha said, “ As NFTs go from culture to utility, Revise aims to lower the barrier to programming NFTs. With Revise in their toolkit, developers can offer creative and powerful utilities to their community through their NFT without sacrificing governance."

The company allows developers to add a governance layer that allows creators to audit revisions made to NFTs based on the programming.

“Programming NFTs unlocks powerful new ways for artists and developers alike to express their creativity and bring people closer to becoming web3 natives. Excited to be on board this journey with them,” said Nailwal in a prepared statement.

Adding utility and use cases for NFTs is increasingly becoming important as buyers struggle to understand the value of these tokens beyond trading. ET reported on Jan 30, that NFT startups and marketplaces in India are giving rise to an NFT economy that solves for digital flexing and unlocking value in physical and digital spaces with NFTs.