Startbahn Raises $10M for Mission to Protect Artists' Rights With NFTs

The platform provides traceability and authentication of artworks using NFTs to protect creators' copyright.

AccessTimeIconMay 13, 2021 at 3:00 p.m. UTC
Updated Sep 14, 2021 at 12:55 p.m. UTC

Startbahn, a Tokyo-based art-tech company, has completed a $10 million Series B capital raise that will fund growth and development of its Startrail blockchain.

The platform provides traceability of artworks using technology such as non-fungible tokens (NFT). The funding will go toward developing Startrail's infrastructure and certification app, ensuring interoperability with "new-generation" NFTs and accelerating the company's global expansion plans.

The round was led by investment firm Miyako Capital and Edge Capital, the early-stage venture capital arm of the University of Tokyo. Miwa Taguchi, OPS, SX Capital, TBS Innovation Partner, iSGS Investment Works and other investors also participated, per a press release Thursday.

Utilizing smart contracts, Startrail's automatically executing rule sets, including those relating to royalty rights, are designed to protect the intellectual property of artists. The blockchain is able to record the reliability, authenticity and traceability of artworks from provenance, according to the company.

“We have been working on blockchain projects in the art domain for a long time," Startbahn CEO Taihei Shii said. "Now that we have gained recognition and trust in the Japanese market and [as] the global NFT market continues to develop, I believe that this is the best time for us to expand our ecosystem worldwide.”


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.