About Synthetix
Synthetix is a company based in Sydney (Australia) founded in 2017.. Synthetix has raised $36.05 million across 5 funding rounds from investors including Coinbase, Framework Ventures and Paradigm Ventures. Synthetix has completed 1 acquisition, including Kwenta. Synthetix operates in a competitive market with competitors including IoTeX, Dash, Decentraland, Origin Protocol and POAP, among others.
- Headquarter Sydney, Australia
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Sectors
TechnologyFinancial Services
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Email
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Funding Insights of Synthetix
Synthetix has successfully raised a total of $36.05M across 5 strategic funding rounds. The most recent funding activity was a Series B round of $20 million completed in March 2023. 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 5
- Last Round Series B — $20.0M
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First Round
First Round
(29 Sep 2017)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Mar, 2023 | Amount | Series B - Synthetix | Valuation | DWF Labs |
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| Feb, 2021 | Amount | Series B - Synthetix | Valuation | Paradigm Ventures , IOSG Ventures |
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| Oct, 2019 | Amount | Series A - Synthetix | Valuation | Framework Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Investors in Synthetix
Synthetix has secured backing from 5 investors, including venture fund and institutional investors. Prominent investors backing the company include Coinbase, Framework Ventures and Paradigm Ventures. 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 |
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Venture capital firm investing in web3 technology startups
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Investments are made in early-stage tech startups by IOSG Ventures.
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Blockchain startups are funded by Framework Ventures venture capital.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Synthetix
Synthetix has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Kwenta. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
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Derivatives trading is enabled via a decentralized exchange platform.
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Synthetix
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Synthetix Comparisons
Competitors of Synthetix
Synthetix 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 IoTeX, Dash, Decentraland, Origin Protocol and POAP, 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 |
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| domain | founded_year | HQ Location |
Blockchain-based connectivity for IoT applications is facilitated.
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Dash is recognized as a digital cash cryptocurrency solution.
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Virtual world games are facilitated through an NFT-based platform.
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| domain | founded_year | HQ Location |
A blockchain platform is provided for building decentralized marketplaces.
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Cloud-based NFTs are collected for event badges and participant tracking.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Synthetix
Frequently Asked Questions about Synthetix
When was Synthetix founded?
Synthetix was founded in 2017.
Where is Synthetix located?
Synthetix is headquartered in Sydney, Australia. It is registered at Sydney, New South Wales, Australia.
Is Synthetix a funded company?
Synthetix is a funded company, having raised a total of $36.05M across 5 funding rounds to date. The company's 1st funding round was a Series A of $3.8M, raised on Sep 29, 2017.
What does Synthetix do?
Synthetix was established in 2017 in Sydney, Australia, as a derivatives liquidity protocol within the cryptocurrency sector. Crypto-backed synthetic asset tokens, known as Synths, have been created and pegged to assets including the Euro, Japanese Yen, Korean Won, Australian Dollar, and gold. Holders of the Synthetix Network Token are enabled to issue these Synths. A decentralized application is provided for users to conduct the minting process.
Who are the top competitors of Synthetix?
How many acquisitions has Synthetix made?
Synthetix has made 1 acquisition, including Kwenta.
Who are Synthetix's investors?
Synthetix has 5 investors. Key investors include Coinbase, Framework Ventures, Paradigm Ventures, DWF Labs, and IOSG Ventures.
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