About Faraway
Faraway is a company based in Miami (United States) founded in 2021 by Dennis Zdonov and Alex Paley.. Faraway has raised $29 million across 2 funding rounds from investors including FTX, Solana and Lightspeed Venture Partners. Faraway offers products and services including Faraway Shop, Developer Portal, Secondary Marketplace, and UGC Tools. Faraway operates in a competitive market with competitors including Animoca Brands, Dapper Labs, Jambo, Sky Mavis and Enjin, among others.
- Headquarter Miami, United States
- Founders Dennis Zdonov, Alex Paley
-
Sectors
TechnologyMedia & Entertainment Financial Services
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Faraway Inc.
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$29 M (USD)
in 2 rounds
-
Latest Funding Round
$21 M (USD), Series A
Nov 04, 2021
-
Investors
FTX
& 6 more
-
Employee Count
Employee Count
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Faraway
Faraway offers a comprehensive portfolio of products and services, including Faraway Shop, Developer Portal, Secondary Marketplace, and UGC Tools. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables buying and trading of in-game assets
Facilitates web3 integration for game creation
Allows players to trade game items securely
Supports creators in making and selling game assets
Unlock access to complete
Unlock access to complete
Funding Insights of Faraway
Faraway has successfully raised a total of $29M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $21 million completed in November 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $21.0M
-
First Round
First Round
(01 Jun 2021)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2021 | Amount | Series A - Faraway | Valuation | Lightspeed Venture Partners , FTX | |
| Jun, 2021 | Amount | Seed - Faraway | Valuation | Lightspeed Venture Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Faraway
Faraway has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include FTX, Solana and Lightspeed Venture Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Venture capital investing in innovative companies across global sectors is undertaken by Lightspeed Venture Partners.
|
Founded Year | Domain | Location | |
|
Venture capital investments in technology sectors are handled by Andreessen Horowitz.
|
Founded Year | Domain | Location | |
|
Sequoia Capital is engaged in venture capital investments.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Faraway
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Faraway
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Faraway Comparisons
Competitors of Faraway
Faraway operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Animoca Brands, Dapper Labs, Jambo, Sky Mavis and Enjin, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Blockchain-based PC and mobile games are developed and published.
|
|
| domain | founded_year | HQ Location |
Blockchain-based games developer for PC and console
|
|
| domain | founded_year | HQ Location |
Web3 mobile infrastructure solutions are developed for a super app.
|
|
| domain | founded_year | HQ Location |
Blockchain-based NFT games are developed for strategy and role-playing genres.
|
|
| domain | founded_year | HQ Location |
Virtual assets are created via a blockchain-based gaming platform.
|
|
| domain | founded_year | HQ Location |
Spatial is focused on creating immersive virtual experiences.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Faraway
Frequently Asked Questions about Faraway
When was Faraway founded?
Faraway was founded in 2021.
Where is Faraway located?
Faraway is headquartered in Miami, United States. It is registered at Miami, Florida, United States.
Is Faraway a funded company?
Faraway is a funded company, having raised a total of $29M across 2 funding rounds to date. The company's 1st funding round was a Seed of $8M, raised on Jun 01, 2021.
What does Faraway do?
Faraway was founded in 2021 and is based in Miami, United States. A blockchain-based platform is maintained, focused on the gaming sector. Development tools for creating games are offered, including open economy titles like Mini Royale Nations. Services such as NFT minting, a creator suite, and new heroes for integration in Mini Royale games are also provided to support creators and users.
Who are the top competitors of Faraway?
Faraway's top competitors include Animoca Brands, Dapper Labs and Sky Mavis.
What products or services does Faraway offer?
Faraway offers Faraway Shop, Developer Portal, Secondary Marketplace, and UGC Tools.
Who are Faraway's investors?
Faraway has 7 investors. Key investors include FTX, Solana, Lightspeed Venture Partners, Andreessen Horowitz, and Sequoia Capital.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.